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What is VIX Index?
VIX Index The CBOE Volatility Index, often called the 'fear gauge,' measures the market's expectation of 30-day forward volatility derived from S&P 500 index option prices. VIX is calculated from a wide strip of SPX options and represents the implied volatility of a hypothetical 30-day at-the-money SPX option. VIX typically rises during market declines and falls during rallies.
Complete definition
The CBOE Volatility Index, often called the 'fear gauge,' measures the market's expectation of 30-day forward volatility derived from S&P 500 index option prices. VIX is calculated from a wide strip of SPX options and represents the implied volatility of a hypothetical 30-day at-the-money SPX option. VIX typically rises during market declines and falls during rallies.
Example
VIX at 15 implies the market expects the S&P 500 to move about 4.3% over the next 30 days (15/sqrt(12)).
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