Data as of 22 October 2026
VIX today
Today in context
History since 2007
Weekly close (last data point of each week). Statistics use every trading day.
What is the VIX?
The Cboe Volatility Index is calculated from the prices of S&P 500 options. When investors pay more to protect themselves against large moves, option prices rise and so does the VIX. That is why it is often called the fear index, although it actually measures expected volatility in either direction.
How to read it
A VIX of 20 means the market expects the S&P 500 to move about 20% annualised, roughly 1.3% per day. What matters most is the comparison with its own history: the same level can be high after a calm year and low in the middle of a crisis.
What the VIX does not tell you
It does not predict the direction of the market or when a fall will start or end. A low VIX does not mean there is no risk, and a high VIX does not mean a recovery is near. It refers to US large caps, not European ETFs, although moves are often correlated.
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Frequently asked questions
What is a normal VIX level?
Since 2007 the median has been around 17. Most days fall between 15 and 25; readings above 30 are uncommon and have coincided with episodes of market stress.
What was the highest VIX ever?
The highest daily close in this series was 82.69 on 16 March 2020, during the Covid crash. In 2008 it also closed above 80.
Does a high VIX mean I should sell?
This page does not make recommendations. The VIX describes how much volatility is expected, not where prices will go. Historically, periods of high VIX have included both sharp falls and sharp rebounds.
Can you invest in the VIX?
Not directly: the index cannot be bought. There are futures and products linked to them, but they behave very differently from the index and are complex instruments.
Source: Cboe Volatility Index (VIXCLS), Chicago Board Options Exchange, via FRED, Federal Reserve Bank of St. Louis.