VIX Daily Update: Fear Index Holds Below 18
The CBOE VIX Volatility Index declined on Wednesday.
The CBOE VIX (VXX) edged lower on Wednesday, as the S&P 500 Index returned to all-time highs.
The Chicago Board Options Exchange Volatility Index, commonly known as the VIX, reached an intraday low of 16.87 on a scale of 1-100, where 20 represents the historical average. It would eventually settle down 5.3% at 17.16.
In stocks, the large-cap S&P 500 Index (SPY) advanced 0.2% on Wednesday.
iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA:VXX) Designed to offer exposure to the S&P 500 VIX Short Term Futures Index Total Return. The Index uses CBOE Volatility Index futures by way of a long position in the first and second month VIX Futures contracts. VXX declined 2.6%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY advanced 1.5%.
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ProShares Ultra Short Term VIX Futures: (UVXY) UVXY is designed to deliver 1.5X (leveraged) returns of the day’s moves in the S&P 500 VIX Short Term Futures Index. It tacks the two front months of the futures contract. UVX declined 4%.
The Final Word: The U.S. economy is slowly recovering from the COVID-19 pandemic. As of Wednesday, more than 30.9 million people had been infected with the disease.