Market Under Pressure

VIX Daily Update: Volatility Remains Subdued as Stocks Rise

The CBOE VIX Volatility Index edged lower on Friday.

The CBOE VIX (VXX) traded lower on Friday, as the S&P 500 extended its record-setting rally.  

The Chicago Board Options Exchange Volatility Index, commonly known as the VIX, reached an intraday low of 16.05 on a scale of 1-100, where 20 represents the historical average. It would eventually settle down 3% at 16.08.

In stocks, the large-cap S&P 500 Index (SPY) rallied 0.4% on Friday.

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 1.7%. 

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 0.7%.

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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 2.4%.

The Final Word: The U.S. economy is slowly recovering from the COVID-19 pandemic. As of Friday, more than 31.5 million people had been infected with the disease.