CBOE Volatility Index Spikes 9% As Triple Witching Day Shakes Market
Portfolio Pulse from Piero Cingari
The CBOE Volatility Index (VIX) surged 9% on Friday, marking the most significant single-day increase since mid-August. This spike followed weeks of relative calm, with the VIX hitting its lowest level since January 2020. Factors contributing to the spike include a resurgence in inflation, surge in oil prices, and the occurrence of a triple witching day. CBOE Global Markets reported significant growth in VIX options in its Q2 financial results. ETFs such as ProShares Trust VIX Short-Term Futures ETF (VIXY), ProShares Trust VIX Mid-Term Futures ETF (VIXM), and ProShares Trust Ultra VIX Short-Term Futures ETF (UVXY) may provide a good correlation to participate in the VIX’s movements.
September 15, 2023 | 7:20 pm
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POSITIVE IMPACT
CBOE Global Markets reported significant growth in VIX options in its Q2 financial results, which could potentially boost its stock price.
The reported growth in VIX options indicates a heightened interest in and demand for options linked to market volatility, which could potentially lead to increased revenues for CBOE Global Markets.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The ProShares Trust Ultra VIX Short-Term Futures ETF (UVXY) may provide a good correlation to participate in the VIX’s movements, potentially impacting its price.
The surge in the VIX could potentially lead to increased interest in ETFs that correlate with its movements, such as UVXY, potentially driving up its price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The ProShares Trust VIX Mid-Term Futures ETF (VIXM) may provide a good correlation to participate in the VIX’s movements, potentially impacting its price.
The surge in the VIX could potentially lead to increased interest in ETFs that correlate with its movements, such as VIXM, potentially driving up its price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The ProShares Trust VIX Short-Term Futures ETF (VIXY) may provide a good correlation to participate in the VIX’s movements, potentially impacting its price.
The surge in the VIX could potentially lead to increased interest in ETFs that correlate with its movements, such as VIXY, potentially driving up its price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80