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+====== VIX ======
+----
+Volatility S&P 500 Index ( Cboe Volatility Index; VIX; Fear index)
+real-time market index representing the market's expectations for volatility over the coming 30 days. Investors use the VIX to measure the level of risk, fear, or stress in the market when making investment decisions.
+If the VIX index level is below 12, volatility is said to be reduced. A VIX level of more than 20 is high, and anything in between can be seen as normal, according to S&P Dow Jones Indices.9 Oct 2020
+the price of each option representing the market's expectation of 30-day forward-looking volatility.
+When the VIX is low, it means there is less market fear, more stability and long-term growth. The VIX typically has a negative correlation with the S&P 500, so when the VIX is low, the S&P 500 is usually experiencing a rise in price.
+below 20 means that the market is forecasting a rather healthy and low risk environment. However, if the VIX falls too low it reflects complacency and that is dangerous, implying everyone is bullish.
+Wall Street's most closely watched index of market anxiety jumped on Friday and options volume on the index soared to a near 4 year high as a growing crisis at SVB Financial weighed on stocks.
+The Cboe Volatility Index, an options-based indicator dubbed the Wall Street "fear gauge," jumped as much as 6.36 points to 28.97, before closing up 2.19 points at 24.8.
+VIX options, used by traders to place wagers on whether stock market volatility will rise or fall in coming weeks and months, changed hands in heavy volume, with some 2.36 million contracts traded.
+===== 2023 - Vix1d =====
+The Vix — the volatility index popularly known as “Wall Street’s fear gauge” — is going through its biggest shake-up in years with the creation of a new version that will track expectations of short-term market swings.
+The 1-day Volatility Index — or Vix1d — which will be launched by exchange group Cboe on Monday, is a response to a recent transformation in derivatives markets that had sparked concerns about the effectiveness and relevance of the original Vix.
+It will measure expected volatility in the S&P 500 over the next day of trading, rather than over the next month like the Vix.
+Rob Hocking, Cboe head of product innovation, said in an interview with the Financial Times that a surge in short-term options trading “provided a certain feel to the market that the 30-day just wasn’t capturing . . . we hope the shorter-dated index will match better”.
+Almost half of trading in S&P 500 options so far this month has been in contracts that expire on the day they are traded. Such short-term contracts allow traders to take more targeted positions around events such as economic data releases or monetary policy meetings, but the activity is not included in the calculation of the main Vix.
+Short-term trading volumes have almost quadrupled since the start of 2020, thanks in part to the addition of new contracts that allowed investors to make zero-day trades every day of the week.
+The Vix, which launched 30 years ago this month, helped to revolutionise US markets by distilling the prices of thousands of different options contracts into a single number that became shorthand for investor expectations of market volatility.
+An average of about 750,000 Vix futures and options contracts a day were traded in 2022, and the index is closely followed by bankers as a signal for timing fundraising deals such as initial public offerings.
+The Vix tends to rise when stocks fall, but it can also jump if investors expect a sharp improvement in conditions. Conversely, if stocks fall slowly and steadily — like last year — the Vix may remain fairly low.
+The Vix1d’s short-term focus is expected to make it much more volatile than the 30-day original. In the days following Silicon Valley Bank’s collapse last month, the Vix jumped from 19 to 26.5 — above its long-term average, but nowhere near the levels normally associated with panic. The Vix1d, in contrast, would have leapt from 15.3 to 40.2.