VIX Futures
Introduced in 2004 on Cboe Futures ExchangeSM (CFE®), VIX futures provide market participants with the ability to trade a volatility futures product based on the VIX Index methodology.
VIX futures reflect the market's estimate of the value of the VIX Index on various expiration dates in the future. VIX futures provide market participants with a variety of opportunities to implement their view using volatility trading strategies, including risk management, alpha generation and portfolio diversification.
| Symbol | Expiration | Last Price | Change | High | Low | Settlement | Volume |
|---|---|---|---|---|---|---|---|
| VIX | - | 16.88 | 0.53 | 19.74 | 19.74 | - | - |
| VX05/G6 | 02/04/2026 | - | - | - | - | 17.95 | - |
| VX06/G6 | 02/11/2026 | - | - | - | - | 18.35 | - |
| VX/G6 | 02/18/2026 | 18.85 | 0.07 | 19.1 | 18.8 | 18.7805 | 1092 |
| VX08/G6 | 02/25/2026 | - | - | - | - | 18.7805 | - |
| VX09/H6 | 03/03/2026 | - | - | - | - | 18.7805 | - |
| VX10/H6 | 03/11/2026 | - | - | - | - | 18.7805 | - |
| VX/H6 | 03/18/2026 | 19.75 | 0.07 | 19.88 | 19.71 | 19.6838 | 635 |
| VX/J6 | 04/15/2026 | 20.47 | 0.06 | 20.57 | 20.35 | 20.4069 | 441 |
| VX/K6 | 05/19/2026 | 20.85 | 0.09 | 20.95 | 20.83 | 20.7598 | 229 |
| VX/M6 | 06/17/2026 | 21.1 | 0.05 | 21.2 | 21.1 | 21.0496 | 186 |
| VX/N6 | 07/22/2026 | 21.6 | 0.09 | 21.62 | 21.55 | 21.5051 | 49 |
| VX/Q6 | 08/19/2026 | 21.75 | 0.08 | 21.8 | 21.7 | 21.6692 | 61 |
| VX/U6 | 09/16/2026 | 22 | 0.04 | 22.1 | 21.95 | 21.965 | 25 |
| VX/V6 | 10/21/2026 | - | - | - | - | 22 | - |
Explore cash-settled futures contracts based on the realized variance of the S&P 500 Index
Trade volatility with greater precision by accessing shorter-term VIX exposure.
The VIX Index settlement process is patterned after the process used to settle A.M.-settled S&P 500 Index options. The final settlement value for Volatility Derivatives is determined on the morning of their expiration date (usually a Wednesday) through a Special Opening Quotation ("SOQ") of the VIX Index. By providing market participants with a mechanism to buy and sell SPX options at the prices that are used to calculate the final settlement value for Volatility Derivatives, the VIX Index settlement process is "tradable."
VIX Weeklys futures began trading on CFE in 2015 and provide market participants with additional opportunities to establish short-term VIX positions and to fine-tune the timing of their hedging and trading activities.
Weekly expirations for VIX futures are generally listed on Thursdays (excluding holidays) and expire on Wednesdays. CFE may list up to six consecutive weekly expirations for VIX futures. VIX Weekly futures generally have the same contract specifications as monthly expiring VIX contracts. See Contract Specifications for VIX Futures for more information.
VIX futures are generally available for trading 23 hours a day during weekdays from 5:00 p.m. CT on Sundays to 4:00 p.m. CT on Fridays. Additionally, the VIX Index is calculated and disseminated overnight, providing market participants with real-time volatility information whenever news breaks.
Stay current with timely market overviews, expert commentary, and best‑in‑class techniques for navigating Volatility Trading.
Implied volatilities were higher across the major asset classes last week as the markets strove to process the economic implications of the US’ demand for Greenland. Gold and silver volatilities led the advance as prices for both metals set record highs. Option sentiment for gold was overwhelmingly bullish with continued demand for upside optionality for the safe haven asset; driving the call/put volume ratio to 4.2, more than double GLD’s typical call/put ratio of 1.8. Learn more in this week’s Macro Volatility Digest.
Implied volatilities were mostly rangebound last week despite rising geopolitical risk. Equity, rates, credit, and FX volatilities all ended the week near 1-year lows. Oil was an exception, with 1M implied vol jumping up over 8 vol pts to 37% (70th percentile high) on the back of bullish call demand. Despite the threat of more supplies coming online from Venezuela, oil traders appear to be more focused on the near-term risks of a potential supply disruption stemming from the Iran unrest. Learn more in this week’s Macro Volatility Digest.
Except for gold, implied volatilities for most asset classes ended 2025 near a 1-year low. And despite the unprecedented actions by the US in Venezuela over the weekend, cross-asset vols have remained remarkably calm so far. Even oil, which initially sold off on the news, have rallied back, with WTI 1M implied vol up just a modest 1.2 vol pts this morning. Learn more in this week’s Macro Volatility Digest.
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