VIX Futures Set New Single-Day Trading Volume Record

Yesterday, March 22, 2006, The CBOE Futures Exchange, LLC (CFE) announced that trading volume for futures had hit a new single day high for the Volatility Index (VIX). 8,285 contracts traded yesterday reaching a new all-time high, passing the previous high of 4,604 contracts, which was set on January 31,2006. At the opening of trading yesterday, the VIX had 21,139 in open interest.

February was also a big month for the VIX as well, reaching a total of 17,720 contracts traded for the month, making February the second busiest month ever. By the end of month, open interest stood at 19,819 contracts.

The VIX Index is a key measure of market expectations of near-term volatility conveyed by S&P stock index option prices. Since its introduction in 1993, VIX has been considered by many to be the world's premier barometer of investor sentiment and market volatility. Also, since volatility often signifies financial turmoil, VIX is often referred to as the "investor fear gauge.?

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Contract Size: $100.00 x VIX Index

Minimum Tick Size and Value: 0.10, worth $10.00 per contract.

Trading Hours (Chicago time): Open-outcry trading is conducted from 8:30 AM until 3:15 PM in an electronic session.

Available Trading Months: Primary trading months for VIX futures are May, June, August and November.
Final Settlement: Cash Settled