Can VIX Options Be Exercised?

VIX Options Can Be Exercised Only at Expiration

VIX options are European style, which means that they can be exercised only at expiration and not earlier.

VIX options are cash settled. This means two things:

  1. You don’t need to worry about ending up with an unwanted position in VIX after expiration.
  2. If you are holding a long position in VIX options and they are in the money (based on the settlement value), you will get cash credited to your account. Typically the cash is credited the day after VIX expiration day, usually on Thursday. VIX settlement value is published on the during the expiration day (usually an hour or two after markets open).

VIX Options Automatic Exercise

Generally, VIX options are automatically exercised if they are at least 0.01 in the money on expiration and you don’t need to give any instructions to your broker. However, you should check the expiration and settlement procedures with your particular broker – they may be different.

More Information about VIX Expiration and Settlement

VIX Options Settlement – basic information about VIX options settlement procedure

VIX Special Opening Quotation (SOQ) – explanation of VIX settlement value and the process how it is determined on the expiration day

VIX Options Expiration – the rules for determining the last trading day and expiration day of VIX options and futures

VIX Expiration Calendar (Futures & Options) for this and the next year + full history of VIX expiration dates

VIX Options – the main page for VIX options with basic introduction, contract specifications, and links to various resources

VIX – all resources for the VIX index and its derivatives

Related pages

variance excel formulacalculate macdpayoff diagrams for call and put optionswhat is a straddle in optionsdefinition of vixcalculate variance in excelcalculate standard deviation on calculatorsec filings 13frsi formula excelshort put payoff diagramcall option payoff graphwacc componentsexcel formula macromacd histogram strategyweighted average cost of inventory formuladelta hedge optionsatr average true rangecalculating skewspy historical returnsarithmetic means calculator13f reportingmoments skewness and kurtosis in statistics13f holdingstrue standard deviation formulacondor strikesma calculatormeaning of rsi in stock marketrealised volatilityaapl flash crashwhat is kurtosis and skewness in statisticssma and emahistorical var calculationblack scholes call optionsharpe ratio in excelwacc formulaeexp function in excellogarithm in excelformula to calculate variance in excelskewness meansaverage standard deviation calculatorvolatility calculatordef of standard deviationexcel probability formulavariance formula for grouped datapreferred equity formula13f berkshire hathawaycboe vix volatility indexdividend calculator spreadsheetcalculate rsiaapl historicalformula for average deviationcalculate thetamarket value weighted indexhow to interpret kurtosiscompute implied volatilityhow is dow jones calculateduvxy prosharess&p vixfloat adjusted market capvaluing a call optionvstoxx volatility indexc# moving averagetypes of hedge fund strategieshow to calculate intrinsic value of stock optionsexcel natural logarithmoptions notional valueblackscholes formulaprofit loss graph excelexcel calculator formulahow to trade vix optionsoptions futures and other derivatives solutions manualweighted arithmetic mean formulaweighted avg cost of capitalhow to calculate variance in exceletf uupdow jones highest ever closingmerton option pricing model