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Settlement and Trading 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."
Settlement
- Holiday & Expiration Calendars
- Settlement Information - VIX Settlement Series
- Futures Daily Settlement Prices
- Final Settlement Prices
- Weekly - VIX Futures Settlement Date Calculators
- Expected Opening Information for Volatility Derivatives Settlement
- Real-Time Index Values
- Cboe Volatility Index (VIX Index) FAQs
VIX Weeklys℠ 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.
Select VIX Institutional Research
CFA Institute Research Foundation
The VIX Index and Volatility-Based Global Indexes and Trading Instruments - A Guide to Investment and Trading Features (2020).
University of Massachusetts
VIX Futures and Options - A Case Study of Portfolio Diversification During the 2008 Financial Crisis (Aug. 2009).
S&P Dow Jones Indices
Reading VIX: Does VIX Predict Future Volatility? (Nov. 2017).
The inclusion of research not conducted or explicitly endorsed by Cboe should not be construed as an endorsement or indication of the value of any research.