Volatility Strategies

Sample Strategies Using Options and Futures on CBOE's Volatilty Indexes

Below are some examples of hypothetical strategies using options or futures on the CBOE Volatility Index® (VIX®). Before investing in VIX options or futures, please read closely the Disclosure* and its links below.

Investors who are bullish on VIX, and bearish on stocks* might consider -

Investors who are bearish on VIX, and bullish on stocks* might consider—

Other Strategies That Use VIX Options

* Caution—sometimes VIX and stock prices move in the same direction. The information in this website is provided solely for general education and information purposes, and is not meant to be investment advice. For more information, please see the VIX Options FAQ re: the unique pricing of VIX options, visit the CBOE Strategies webpage http://www.cboe.com/strategies/default.aspx , and the VIX website at www.cboe.com/vix. Past performance is not indicative of future results.

Vix-related Benchmark Indexes

Ticker Index Delayed Quotes
Sym Last Pt. Change
VPD CBOE VIX Premium Strategy Index
VPD 255.63 1.61
VPN CBOE Capped VIX Premium Strategy Index
VPN 248.64 1.55
VXTH CBOE VIX Tail Hedge Index
VXTH 203.71 0.79

Options Profit-and-Loss Diagrams

* In the Protective Put and Buy-write diagrams, the faint grey line represents an equity position, and the colored "hockey-stick-shaped" line represents the combined stock plus options position. For more details, please click on strategies.

Futures and options on the CBOE's volatility indexes have several UNIQUE FEATURES that distinguish them from most equity and index options, and investors are strongly ENCOURAGED TO CLOSELY READ AND UNDERSTAND THE VIX OPTIONS FAQ at http://www.cboe.com/micro/vix/faq.aspx and other informational materials before investing.

  VIX Snapshot

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