VVIX - Cboe VIX of VIX Index

Cboe VIX of VIX Index (VVIX).

VVIX Options Snapshot

Options pricing data for VVIX is refreshed daily after the close. When listed contracts exist, this page surfaces the latest at-the-money implied volatility, max pain strike, dealer gamma exposure (GEX), and 25-delta skew. Listed contracts and live snapshots appear once the options chain has been published by the exchange for the most recent session.

What This Page Covers

The VVIX overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks.

VVIX Methodology and Construction

VVIX is a benchmark index level rather than a tradable share. Index levels are computed by the provider using a published methodology that specifies the constituent universe, weighting scheme (market-capitalization-weighted, price-weighted, equal-weighted, or factor-weighted), rebalancing cadence, and corporate-action adjustment rules. The level is publishable at end of day, intraday in real-time depending on the provider, and via Special Opening Quotation on settlement Fridays for options that settle to the index. Index components, weights, and reconstitution dates are published by the index provider and updated on the regular calendar.

VVIX Options and Derivative Products

Listed options on index symbols are typically European-style and cash-settled, with no early exercise and no physical delivery. Settlement occurs against the index's Special Opening Quotation for AM-settled options and against the closing print for PM-settled options. Standard listed-options tenors include weekly, monthly, quarterly, and LEAPS (long-dated) cycles; the strike grid is densest around the prevailing index level. Index options carry no individual-name event risk; their implied volatility reflects the volatility of the weighted basket plus the correlation structure across constituents.

VVIX Related Products

Most major indices have related listed products: an exchange-traded fund (ETF) tracking the index for delta-one exposure, futures contracts on the index for leveraged exposure with mark-to-market settlement, listed options on the index itself for European-style derivatives, and listed options on the corresponding ETF for American-style derivatives that settle to shares of the fund rather than to cash. Each related product carries its own implied-volatility surface, dealer-positioning profile, and basis to the underlying index.

Frequently asked VVIX overview questions

What is VVIX?

VVIX is the listed ticker symbol for Cboe VIX of VIX Index, an index. VVIX is the index symbol shown on this page; index traders use the level for benchmark performance comparison, options pricing on the index itself (e.g. SPX, NDX, RUT), and as the reference for derivative products that settle to the index.

How does VVIX differ from single-name equity tickers?

Index symbols (SPX, NDX, RUT, VIX, and others) represent benchmark levels rather than tradable shares. Listed options on index symbols are typically European-style and cash-settled, with PM-settlement on the Friday close and AM-settlement on the Friday-morning Special Opening Quotation. Index options carry no individual-name event risk; their implied volatility reflects the volatility of the basket weighted by index weights plus the correlation structure across constituents. Dispersion trading exploits the wedge between index IV and constituent IV.

How current is the VVIX data on this page?

Options snapshots refresh after each trading session; if no snapshot is currently posted for VVIX, it usually reflects low options liquidity or a recently listed name. Index methodology, constituent weights, and rebalancing rules are published by the index provider. Listed options on the index settle to the provider's official Special Opening Quotation or end-of-day level. There is no issuer-level FINRA or SEC reporting on the index itself; constituent-level data is on the individual constituent pages.