VIX Daily Update: Volatility Ebbs as Stocks Falter
The CBOE VIX Volatility Index ended slightly lower on Wednesday.
The CBOE VIX (VXX) declined modestly on Wednesday, as investors continued to monitor stimulus discussions in Washington.
The Chicago Board Options Exchange Volatility Index reached an intraday low of 28.50 on a scale of 1-100 where 20 represents the historical average. It would eventually settle down 1.8% at 28.81.
In stocks, the large-cap S&P 500 Index (SPY) declined 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 2.4%.
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 1.2%.
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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 3.5%.
The Final Word: Investors continue to eye the global spread of COVID-19. As of Wednesday, more than 41 million people had been infected with the novel disease, including 8.3 million in the United States.