The CBOE Volatility Index - in short: VIX - is the best-known volatility index and expresses the expected short-term fluctuation range (implied volatility) of the S&P 500 Index. In addition to pure analysis, traders also like to use derivative financial products such as Futures and Optionsto speculate on the development of the VIX or to hedge against it.
Contract specifications
| Designation | CBOE Volatility Index VIX Futures |
| Abbreviation | VIX |
| Contract size | 1000 USD x VIX Index |
| Price quote | Index points |
| Tick size | 0.05 Index points |
| Tick value | 50 USD |
| Daily price limit | None |
| Stock Exchange | CFE (Cboe Futures Exchange) |
| Trading hours (DE) | 0 o'clock - 22.15 o'clock 22:30 - 23:00 |
| Contract months | All + weekly contracts for the next six weeks |
What are VIX futures?
The CBOE Volatility Index VIX Futures are futures contracts on the volatility index VIX. Contracts with monthly expiration dates are available, as well as contracts with weekly expiration dates for the next six weeks.
To calculate the equivalent value of a VIX future, the index score is multiplied by 1000 USD. For example, if the VIX rises from 20 to 21 points, this means a profit/loss of 1000 USD.
Mini VIX Futures
The Cboe has announced that it will launch Mini VIX Futures before the end of 2020. As with the mini and micro futures, which have been admitted to trading for an increasing number of underlyings in recent years, this is increasingly aimed at private traders and smaller capitalized market participants.
The contract size of Mini VIX futures is 1/10 of the regular contract size. If the VIX rises from 15 points to 20 points, this only causes an account movement of 500 USD.
