VIX Volatility Index

The chart shows the CBOE Volatility Index, the VIX, one close per day for three years. The VIX is the 30-day volatility priced into S&P 500 options. The page reads the live source every hour and shows the current VIX with its 90-day change.

The VIX is called the fear gauge because it measures what protection costs. It rises when investors pay more to hedge and falls when they stop. It usually spikes when stocks fall. The useful cases are the exceptions, such as a VIX that rises while stocks sit near their highs. The VIX is a price, not a forecast.