VIX Options and Futures
The CBOE Volatility Index® (VIX® Index) is a leading measure of market expectations of near-term volatility conveyed by S&P 500 Index (SPX) option prices. With the introduction of the VIX® Index in 1993, followed by the launch of trading of VIX futures at CBOE Futures Exchange (CFE) in 2004 and VIX options at CBOE in 2006, there has been a growing acceptance of trading VIX and VIX-linked products as risk management tools.
VIX options and futures enable investors to trade volatility independent of the direction or the level of stock prices. Whether an investor's outlook on the market is bullish, bearish or somewhere in between -- VIX options and futures can provide the ability to diversify a portfolio or hedge, mitigate or capitalize on broad market volatility.
Beginning in June 2014, VIX futures trading hours were expanded to nearly 24 hours a day, five days a week. Beginning on March 2, 2015, the trading hours for VIX options begin at 2:00 a.m. Central time (Chicago time). Please visit the Extended Trading Hours webpage for more details.