Products

 

VXN



Introduction
Options on the VXN Index
Futures on the VXN Index
Methodology for Calculation of the VXN Index
VXN Historical Price Data
VXN Price Charts



Introduction

The CBOE NASDAQ-100 Volatility IndexSM (VXNSM) is a key measure of market expectations of near-term volatility conveyed by NASDAQ-100 Index (NDX) option prices. It measures the market's expectation of 30-day volatility implicit in the prices of near-term NASDAQ-100 options. VXN is quoted in percentage points, just like the standard deviation of a rate of return, e.g. 19.36. CBOE disseminates the VXN index value continuously during trading hours. The VXN Index is a leading barometer of investor sentiment and market volatility relating to the NASDAQ-100 Index.



Options on the VXN Index

Press Release Sept. 26, 2007
Press Release Sept. 6, 2007
Contract Specifications
Price Quote
Sample Options Strategies



Futures on the VXN Index

On July 6, 2007, CBOE Futures Exchange (CFE) launched futures contracts on the CBOE NASDAQ-100 Volatility Index (ticker symbol VXN, futures symbol VN), under a licensing agreement with The Nasdaq Stock Market, Inc. Futures on VXN trade electronically on CFE using the CBOEDirect® trade engine. These innovative futures provide a pure play on implied volatility independent of the direction and level of stock prices. VXN futures may also provide an effective way to hedge equity returns, to diversify portfolios, and to spread implied against realized volatility.




Methodology for Calculation of the VXN Index

On September 22, 2003, CBOE implemented a new methodology and revised price history for the VXN Index. The same formula and methodology used to calculate the VIX Index is applied to the VXN as well.



VXN Historical Price Data

Please select from the links below for VXN historical data using the new methodology:

VXN data for February 2001 - Present (Updated Daily)

Click here for the most recent VIX, VXO, and VXN Open, High, Low and Close data.

CBOE Nasdaq Volatility Index data is compiled for the convenience of site visitors and is furnished without responsibility for accuracy and is accepted by the site visitor on the condition that transmission or omissions shall not be made the basis for any claim, demand or cause for action. The information and data was obtained from sources believed to be reliable, but accuracy is not guaranteed.



VXN Price Charts





Please note that past prices are not guarantees of future returns, and that the changes in prices for the VXN spot index and VXN futures often will not match.







Links to More Up-to-date Price Information

Delayed Price Quotes
BigCharts

CBOE is solely responsible for calculating and disseminating the CBOE NASDAQ-100 Volatility Index from the implied volatilities of certain options based on the Nasdaq-100 Index, and neither the Nasdaq Stock Market, Inc. nor any of its affiliates (which are collectively referred to as the Corporations) shall have any liability arising out of the calculation or dissemination of the CBOE Nasdaq-100 Volatility Index. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE CBOE NASDAQ-100 VOLATILITY INDEX.




Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (ODD). Copies of the ODD are available from your broker, by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606. The information on this website is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions which should be referred to for additional detail and are subject to changes that may not be reflected in the website information. No statement within the website should be construed as a recommendation to buy or sell a security or to provide investment advice. The inclusion of non-CBOE advertisements on the website should not be construed as an endorsement or an indication of the value of any product, service, or website. The Terms and Conditions govern use of this website and use of this website will be deemed acceptance of those Terms and Conditions.