VIX basics
What Is the VIX?
The VIX is a market measure of expected near-term volatility for the S&P 500. This guide explains what the index tells you and how to follow it with VIX Alert.
What the VIX measures
The Cboe Volatility Index, commonly called the VIX, reflects expected S&P 500 volatility over the next 30 days as implied by prices of S&P 500 Index options. It is a forward-looking measure derived from option prices, rather than a measure of volatility that has already occurred.
The VIX is often called a “fear gauge,” but it is not a direct measure of investor sentiment and it does not predict whether the S&P 500 will rise or fall. It describes the market-implied magnitude of expected movement. Read the Cboe VIX FAQs for details about the index and its calculation.
How to interpret VIX levels
A higher VIX generally means option prices imply larger expected market swings; a lower VIX implies smaller expected swings. The index is annualized, so it should be understood as a volatility measure rather than a percentage prediction for the next month or a directional signal.
VIX levels are context, not a buy or sell recommendation. Compare changes over time and consider broader market conditions instead of relying on a single reading.
Follow VIX trends and set an alert
VIX Alert displays the VIX alongside the S&P 500 and lets you choose a VIX level for an email alert. Submit your email address and confirm the verification message to activate an alert.
View the VIX dashboardFrequently asked questions
Does a rising VIX mean stocks will fall?
No. The VIX measures expected volatility, not market direction. It can rise when demand for protection increases, but it does not say whether the S&P 500 will finish higher or lower.
Is the VIX the same as actual volatility?
No. The VIX is implied by option prices and looks ahead over a 30-day horizon. Actual volatility describes how much the index moved over a past period.
Can I receive an alert at a VIX level?
Yes. Choose a threshold on the dashboard, enter your email, and confirm the verification email to enable the alert.
VIX Alert provides market data and notifications for informational purposes only. It is not investment advice.