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Short-term increase in Market Volatility?
In the popular financial press, the VIX Index is often referred to as the "fear gauge". In reality, it is a quantitative assessment of expected stock market volatility over the next thirty day period, and is computed from S&P 500 stock index option prices.
To rule-of-thumb accuracy, the numerical value of the VIX corresponds to the annualized one-sigma percentage change in the value of the S&P 500 Index over the next month. As of the opening of this question, the VIX stands just below 11, so very roughly speaking, this means that the market ascribes a 30% chance that stocks will have changed in price by more than 3.2% by mid-October 2017.
Typically, the value of the VIX lies between 12 and 20, but it regularly spikes during times of market turmoil. During the 2008 financial crisis, for example, the VIX briefly reached values above 80. So far during 2017, however, stock volatility has consistently tested near-record low levels, but jitters last month surrounding the situation on the Korean peninsula briefly caused the index to jump by more than 50%.
Prior to October 15, 2017, will the VIX Index have an intra-day print with a value above 25?
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