VIX Daily Update: Volatility Approaching Historic Average
The CBOE VIX Volatility Index declined on Monday.
The CBOE VIX (VXX) continued lower on Monday, as U.S. equity markets resumed their upward climb.
The Chicago Board Options Exchange Volatility, commonly known as the VIX, fell 4.4% to 22.65. The so-called “fear index” trades on a scale of 1-100, where 20 represents the historical average.
In stocks, the large-cap S&P 500 Index (SPY) advanced 0.6% on Monday.
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 1.2%.
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 0.6%.
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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 1.5%.
The Final Word: Investors continue to eye the global spread of COVID-19. As of Monday, more than 58.9 million people had been infected with the novel disease, including 12.3 million in the United States.