Reported volume in options on the Volatility Index (VIX) of the Chicago Board Options Exchange (CBOE) totaled 274,360 contracts May 16, beating the previous single-day volume record of 208,872 contracts set on March 8.
VIX is the widely disseminated benchmark index of market volatility and investor sentiment, sometimes referred to as the market’s “fear gauge.”
Launched in February 2006, average daily volume for VIX options during April was 55,557 contracts, making it the third most actively traded index and the sixth most actively traded product at CBOE.