VIX Approaches Year End on the Rise
After going into slumber mode at the end of November, the VIX has woken up in December and could end the year on a higher note.
In the last month, the VIX has jumped almost 30%, hitting its greatest level in months. On Thursday, it hit 20.90 for the first time since the middle of the summer.
Also moving higher on Thursday were ProShares Ultra VIX Short-Term Futures ETF (NYSEARCA:UVXY) and the VelocityShares Daily 2x VIX Short Term ETN (NYSEARCA:TVIX)--up by double digits in the trading day before settling down by two percent or so as the day came to an end, reported Barrons.
The Barclays iPath S&P 500 Short-term VIX Futures ETN (NYSEARCA:VXX) also increased by approximately 1%.
For the day, the VIX closed at 19.47 on Thursday.
With the clock ticking for President Obama and Congress to reach a fiscal cliff deal, investors are readying for an up and down ride.
The stock market has already factored this in and not helping matters was Thursday's weak consumer confidence number, which pushed stocks lower.
Over at StockTwits, they had a field day yesterday with the fiscal cliff dilemma providing fodder for the VIX, reported CNN.
With the market open almost two hours into this last trading day of the week, the VIX is at 19.97, up 2.57%.
How high will it go on December's last Friday for the year?
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