The CBOE VIX (VXX) rose sharply on Thursday, as stocks sold off in the wake of the Fed’s policy decision.
The Chicago Board Options Exchange VIX (VXX), known as the fear index, reached an intraday low of 28.92 on a scale of 1-100 where 20 represents the traditional average. It would finally settle up 2.9% at 26.80.
In stocks markets, the large-cap S&P 500 Index (SPY) sank 0.8% on Thursday.
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 decreased by 2.3%.
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 by 1%.
ProShares UltraShort Term VIX Futures: (UVXY) UVXY delivers 1.5X (leveraged) returns of the day’s volatility in the S&P 500 VIX Short Term Futures Index. It attaches the two front months of the futures contract. UVXY dipped by 3.2%.
Investors continue to eye the global spread of COVID-19. As of Wednesday, almost 30 million people infected with COVID-19, including 6.6 million in the United States.