A slight increase in volatility was reported on the VIX index on Monday.
On Friday, the CBOE VIX (VXX) edged higher as the S&P 500 Index paused following a record-breaking rally.
In an intraday high, VIX, a Chicago Board Options Exchange volatility index, reached a level of 17.91 out of 100, where a 20 represents the historical average. VIX would ultimately fall 1.3% to 16.91.
In stocks, the large-cap S&P 500 Index (SPY) flat-lined on Monday.
iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA: VXX) Designed to offer exposure to the S&P 500 VIX Short Term Futures Index Total Return. The Index uses CBOE Volatility Index futures by way of a long position in the first and second-month VIX Futures contracts. VXX declined 1.5%.
ProShares Short VIX Short-Term Futures (SVXY) to track the S&P 500 VIX Short Term Futures Index’s inverse daily performance. SVXY advanced 0.9%.
ProShares UltraShort Term VIX Futures: UVXY expects to return 1.5X (leveraged) the S&P 500 VIX Futures Index today. Those are the two months of the UVX futures contract. UVX dropped 1.7%.
It is said that the U.S. economy is slowly starting to recover from the COVID-19 pandemic. Over the past week, more than 31 million people have fallen ill with the disease.