The Chicago Board Options Exchange Volatility Index (VIX), known as Wall Street's "panic index," fell to its lowest level since the outbreak of covid-19 on Thursday, with strong corporate earnings driving the stock market higher. The VIX index closed down 3.1 percent to 15.01 on Thursday, its lowest close since Feb. 19, 2020. The average for the index in 2021 is 19.71. ViX measures the market's expectations of 30-day volatility and can be used as a way to gauge the level of fear among market participants. Chris Murphy, equity derivative strategist at Susquehanna International Group, wrote in a note that volatility remained high in the rest of the market despite the "sharp decline" in the VIX index.
This article originated from the international derivatives think tank
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