VIX Futures

Volatility Index (VIX^®) Futures

Introduced in 2004 on Cboe Futures Exchange^SM (CFE^®), VIX futures provide market participants with the ability to trade a volatility futures product based on the VIX Index methodology.

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Overview
Market Data
Key Resources
Insights

Overview

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.

Making Sense of the VIX Index

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Market Data

Symbol	Expiration	Last Price	Change	High	Low	Settlement	Volume
VIX	-	16.44	-1.21	17.75	17.75	-	-
VX26/N6	07/01/2026	-	-	-	-	18.415	-
VX27/N6	07/08/2026	-	-	-	-	18.415	-
VX28/N6	07/15/2026	-	-	-	-	18.415	-
VX/N6	07/22/2026	17.95	-0.47	18.6	17.9	18.415	49263
VX30/N6	07/29/2026	-	-	-	-	18.415	-
VX31/Q6	08/05/2026	-	-	-	-	18.415	-
VX/Q6	08/19/2026	18.9	-0.36	19.38	18.9	19.2634	30141
VX/U6	09/16/2026	19.71	-0.32	20.11	19.67	20.0277	7958
VX/V6	10/21/2026	20.42	-0.29	20.78	20.4	20.7081	3616
VX/X6	11/18/2026	20.75	-0.22	21	20.7	20.9669	3877
VX/Z6	12/16/2026	20.8	-0.18	21.02	20.75	20.9807	1444
VX/F7	01/20/2027	21.6	-0.26	21.85	21.6	21.856	79
VX/G7	02/17/2027	21.8	-0.25	22.05	21.8	22.05	19
VX/H7	03/17/2027	21.95	-0.20	21.95	21.95	22.15	20

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Options on VIX^® Futures

Trade volatility with greater precision by accessing shorter-term VIX exposure.

Options on VIX Futures

Settlement of VIX Derivatives

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 Weekly Futures

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.

Key Resources

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.

Holiday & Expiration Calendars

Settlement Information - VIX Settlement Series

Futures Daily Settlement Prices

Final Settlement Prices

Weekly - VIX Futures Settlement Date Calculators

Latest Market Insights

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Macro Volatility Digest

Volatility Traders Position for Long Convexity on Global Tech Consolidation

With the exception of equities and credit, implied volatilities amongst the major asset classes remained steady w/w following last week’s global AI/ Tech consolidation. Rate vols remain near one-year lows (2nd percentile) and treasury yields across the curve leveled off at slightly higher levels after jumping sharply post-FOMC. As oil prices and vols continue to fall, commodity traders are now looking to take advantage of the cheaper oil vols to hedge against the possibility of a supply driven rebound. Oil call skew is now noticeably steeper w/w with 1M 5-delta, deep out-of-the-money calls now trading at a 22 pt premium (+8pts w/w) vs at-the-money calls. Learn more in this week’s Macro Volatility Digest.

Macro Volatility Digest

Cross-Asset Volatilities Decline as Traders Pivot Away from Hawkish Fed

Implied volatilities declined across the board last week as the markets pivoted away from a hawkish Fed to an intense but ultimately positive US-Iranian weekend negotiation to end hostilities. USO 1M 25-delta call skew is now lower vs pre-War levels (USO call implied volatilities trading +3pts above comparable put implied vols vs a pre-War skew differential of +15pts). Interest rate volatility per VIXTLT Index has declined to a 1 percentile low despite both, the Fed’s hawkish tone and Kevin Warsh’s removal of forward guidance which in theory increases uncertainty (and therefore implied volatility) about future policy. Nonetheless, the probability of a 2nd rate hike still remains low (36%). Learn more in this week’s Macro Volatility Digest.

Macro Volatility Digest

Cross-Asset Volatilities Normalize as Geopolitical Risk Premia Dissipates

Implied volatilities declined across the board last week as the solidification of a US-Iranian peace agreement and the re-opening of the Strait of Hormuz dissipated geopolitical risk premia across the major asset classes. With oil prices falling to a 3-month low (though still at a 20% premium vs pre-War levels), risk sentiment and positioning in the oil markets have both normalized to pre-War levels with 1M oil volatility (OVX) falling 5pts to 54% (65th percentile) and 1M USO call implied volatilities trading just slightly above parity vs comparable maturity put implied vols. Learn more in this week’s Macro Volatility Digest.

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