VolatilityCBOEContinuous
CBOE Volatility Index (VIX)
What is CBOE Volatility Index (VIX)?
Measures 30-day implied volatility of S&P 500 options.
Why it matters
The market's fear gauge.
How to read prints
When it rises
Markets pricing in higher near-term volatility; stress rising.
When it falls
Volatility expectations easing; risk appetite returning.
Frequently asked
What is the VIX?⌄
The CBOE Volatility Index measures the markets 30-day expected volatility of the S&P 500, derived from SPX option prices.
What levels matter?⌄
Below 15: complacency. 15-20: normal. 20-30: elevated stress. Above 30: crisis territory. Above 50: extreme dislocation.
What is the VIX term structure?⌄
The shape of VIX futures across expiries. Contango (upward sloping) is the normal regime; backwardation signals near-term stress.
Can you trade the VIX directly?⌄
Not the spot index. You trade VIX futures, options, or ETPs like VXX and UVXY, all of which suffer from roll decay in contango.
Track it on Market Ontology
Monitor CBOE Volatility Index (VIX) in real time on Options Intelligence, alongside regime classification, transmission mapping, and cross-asset context.
| Source | CBOE |
| Frequency | Continuous |
| Category | Volatility |
| FRED Series | VIXCLS |
| Unit | index |
| Related Module | Options Intelligence |
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