VIX futures are financial derivatives that allow traders to bet on future movements in the VIX index, also known as the CBOE Volatility Index.
VIX futures contracts are traded on the Cboe Futures Exchange (CFE) and are settled in cash.
It’s important to note that VIX futures trading is considered a high-risk investment and it’s not suitable for all investors.
Standard VIX Futures (VX)
VIX Futures began trading on March 26, 2004. They reflect the market’s estimate of the value of the VIX Index on various expiration dates in the future.
Contract Name: Cboe Volatility Index (VX) Futures
Ticker symbols: VX01 through VX53.
Embedded numbers denote the specific week of a calendar year during which a contract is settled. For symbology purposes, the first week of a calendar year is the first week of that year with a Wednesday on which a weekly VX futures contract could expire.
Contract Multiplier: $1000.
Mini VIX Futures (VXM)
Mini VIX Futures, at 1/10th the size of the standard VIX futures contract began trading on August 10, 2020.
Mini VIX futures are designed to provide additional flexibility in volatility risk management and greater precision when allocating among smaller managed accounts.
Contract Name: Mini Cboe Volatility Index (VXM) Futures
Ticker symbols: VXM01 through VXM53.
Embedded numbers denote the specific week of a calendar year during which a contract is settled. For symbology purposes, the first week of a calendar year is the first week of that year with a Wednesday on which a weekly VXM futures contract could expire.
Contract Multiplier: $100.
Trading Hours
VIX futures (VX and VXM) are traded on the Cboe Futures Exchange (CFE), which operates from Sunday through Friday. The trading hours for VIX futures are as follows:
- Extended (pre) – 5:00 p.m. (previous day) to 8:30 a.m.
- Regular trading hours (RTH) – 8:30 a.m. to 3:00 p.m. (Market Order Acceptance Time)
- Extended (post) – 3:00 p.m. to 4:00 p.m.
All times are in Central Time (CT), also known as Chicago time.
Note that the trading hours for VIX futures may be subject to change due to holidays or other events, so it’s always a good idea to check the CFE’s website for the most up-to-date information.