VIX Options

The Underlying of VIX Options: the VIX

The underlying of VIX options is CBOE Volatility Index, better known as the VIX. This fact makes VIX options a very specific trading vehicle. The VIX Index is a measure of expected volatility of S&P500 stock index (see more detailed explanation here: What Is VIX?). VIX is calculated from the prices of near term S&P500 options – the calculation is explained in more detail here: VIX Calculation.

Where VIX Options Are Traded

VIX options are traded on CBOE (Chicago Board Options Exchange). The official website of CBOE, where you can find detailed documentation for VIX options and delayed quotes, is .

VIX Option Chain, Strikes and Expiration Months

Up to 6 expiration months of VIX options are available for trading at a time. The minimum strike price interval is 1 dollar, but it is 2.50 or 5 on far out of the money strikes. Here you can find more details about the VIX Option Chain.

VIX Options Expiration

The expiration date of VIX options is 30 days before the third Friday of the following month, which is usually Wednesday, except when there is public holiday. VIX options expire 30 days before S&P500 options (it is not a coincidence that the VIX Index is calculated as a hypothetical 30-day implied volatility of S&P500 options).

Here you can see more information about VIX Options Expiration.

Here you can find VIX options expiration calendar and expiration dates history.

The last trading day of VIX options is the business day before, usually Tuesday.

Exercising VIX Options and Settlement

VIX options are European style and they can be exercised only at expiration. The exercise-settlement value is determined by the opening prices or quotes of S&P500 options on the VIX options expiration date – the so called Special Opening Quotation (SOQ) of VIX. VIX options are cash settled, because the underlying VIX Index is non-tradable and can’t be delivered. See more information about VIX Options Settlement.

Trading VIX Options

Here you can find further important information regarding trading VIX options and trading the VIX in general.

Related pages

berkshire hathaway holdings changessample variance definitionpercent variation calculatorvar value at risk calculationmacd crossover indicators&p 500 futures bloombergusing natural log in excelformula for population meanfifo accounting calculatormedian advantages and disadvantageshow to calculate volatility for black scholesvix futures volumecalculating historical volatilitykurtosis calculatorvariance and standard deviation for grouped dataetfs listleptokurtic graphhow to calculate variance in financehow to calculate mean variance and standard deviationblack scholes thetavxx indexmsft financederiving square rootsstock price volatility formulahow to calculate variation in excellogarithmic returnsvelocityshares tvixcalculating formulas in excelnegative and positive numbers calculatorfinding covariance in excelcboevixgeometric average financedividend calculator spreadsheetwhen do vix options expirestocks at all time lowsformula to calculate in excelnotepad settingsskew formulageometric average vs arithmetic averagesharpe ratio in excelcalculator variancecalc standard deviationoptions greeks calculatorcalculate historical volatilityshort strangle calculatorfxe etfcalculating mean excelcall spread payoffcapitalization weighted indexcalculation of wacc examplestandard deviation calculation excelcboe settlement pricesblack scholes pricing model calculatorsma calculatordelta vega gammavariance formula for excelcalculating rsimsft stock price historylist of leveraged etfuses of skewnesslong term vix chartinterpretation of sharpe ratioetf xivrsi valuenotepad languagesgreek calculator optionshow to trade the vix3x vix etfsimple arithmetic formulasadvantages and disadvantages of a spreadsheetsquare root of a negative number calculatorannualization calculatoratr average true rangestandard variance calculator3x vix etfcboe implied volatilityvix define