The CBOE VIX (VXX) drifted slightly lower on Tuesday, as equities rallied in the shadow of the FOMC’s next policy decision.
The CBOE Volatility Index touched an intraday low of 24..92 on a scale of 1-100 where 20 represents the historical average. It settled down 0.2% at 25.80.
In stocks, the large-cap S&P 500 Index (SPY) rose 0.5% on Tuesday.
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 0.1%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY flat-lined.
ProShares UltraShort Term VIX Futures: (UVXY) UVXY composed to deliver 1.5X (leveraged) returns of the day’s changes in the S&P 500 VIX Short Term Futures Index. It tracks the last two months of the futures contract. UVXY declined by 0.1%.
The Final Word:
Investors continue to track the global spread of COVID-19. As of Monday, more than 29.3 million people infected with the new disease, including 6.5 million in the United States.