The Chicago Board Options Exchange (CBOE) announced that volume for the first day of trading of options on the CBOE Volatility Index, “VIX”, on Friday, February 24, 2006, totaled 9,423 contracts (4,328 calls and 5,095 puts).
VIX is the benchmark index commonly referred to as the market’s “fear gauge,” and for the first time, investors can trade options on this premier measure of market volatility and investor sentiment. The VIX price is calculated and disseminated by the CBOE throughout the trading day.
VIX futures (futures ticker symbol VX) have been available on the all-electronic CBOE Futures Exchange (CFE) since 2004.
“Volume of almost 10,000 contracts on the first day trading is an endorsement of the strong investor interest in this product,” commented William Brodsky, CBOE Chairman and Chief Executive Officer. “The VIX has been an industry benchmark for over a decade and, by creating an opportunity for investors to trade the indicator of market volatility, CBOE has achieved yet another industry milestone.”