Trading hours
Cboe VIX futures and most VIX CFDs trade from 23:00 UK Sunday to 22:00 UK Friday, with a daily break from 22:00 to 23:00 UK; the main session matches US stock hours, 14:30 to 21:00 UK.
| When | UK time | New York time | Note |
|---|---|---|---|
| Weekly open | Sunday 23:00 | Sunday 18:00 ET | 17:00 Chicago time, when Cboe's extended session for VIX futures begins. |
| Regular session | 14:30 to 21:00 | 09:30 to 16:00 ET | 08:30 to 15:00 Chicago time, the same hours as US shares. |
| Late extended session | 21:00 to 22:00 | 16:00 to 17:00 ET | 15:00 to 16:00 Chicago time. |
| Daily break | 22:00 to 23:00 | 17:00 to 18:00 ET | Times follow your broker's server clock. |
| Friday close | 22:00 | 17:00 ET | Some brokers stop a few minutes earlier on Friday. |
New York changes its clocks on different dates from the UK (in 2026 the UK changed on 25 October and the US on 1 November; in 2027 the US changes on 14 March and the UK on 28 March). In those gap weeks New York is 4 hours behind London instead of 5, so every UK time on this page that is set by New York comes an hour earlier. Broker server clocks usually follow New York, so times on your platform can look different in those weeks even though the market has not moved.
What is VIX volatility index (VIX)?
The VIX is often called the fear index. It is a number, in percentage points of yearly volatility, that rises when traders pay more for S&P 500 options to protect themselves, which usually happens when shares are falling. A low VIX means calm, expected moves are small; a jump in the VIX means traders expect big moves.
The VIX index is a calculation, not something you can own. What trades are VIX futures on the Cboe Futures Exchange, which settle each month to the VIX. A VIX CFD follows a futures contract, so its price often differs from the VIX number you see quoted, and the broker rolls it from one month to the next. When later futures are priced above the index (called contango), a CFD tends to drift down over time if the VIX stays calm.
The trading sessions
VIX futures trade but usually drift; big overnight share moves can still lift them.
Surprises in US data can move VIX futures before the share open.
The main session; the VIX usually rises when US shares fall and eases when they climb.
Contract facts
One point is a move of 1.00 in the VIX level (for example from 16.00 to 17.00). Prices show two decimals.
Lot sizes differ between brokers. A common setup is 1 lot worth a set number of US dollars per point; check the contract specification in your platform, including how and when the broker rolls to the next futures month.
On a CFD where 1 lot is worth 100 dollars per point, a 0.50 point move on 1 lot is worth 50 dollars. On one Cboe VIX futures contract a 1 point move is worth 1,000 dollars.
Cboe VIX futures (VX): 1,000 US dollars per index point, typically with a minimum move of 0.05 point (50 dollars). Mini VIX futures (VXM) are 100 dollars per point.
How far it usually moves
Varies with conditions; check the Average daily range indicator on WickSpeak for the current figure. We do not publish a fixed number because we could not verify one from an official source.
What moves VIX volatility index (VIX)
Sharp drops in the S&P 500 usually send the VIX up, often faster than shares fall.
Expected volatility often builds before Fed decisions, CPI and elections, then eases after them.
When traders rush to buy S&P 500 protection, the option prices that feed the VIX rise.
VIX CFDs follow futures and are rolled each month, which can shift the price even when the index is flat.
In quiet rising markets the VIX tends to sink and stay low for long stretches.
Scheduled events to watch
Hotter or cooler inflation changes what traders expect from US interest rates, which moves every risk market.
Eight scheduled meetings a year; the decision and the tone of the press conference reset US rate expectations.
The biggest monthly US data release, often the busiest few minutes of the month.
VIX futures settle to a special opening VIX value, so the CFD's underlying contract changes around this date.
Big misses from the largest US companies can lift expected volatility.
What it tends to move with
Usually moves in the opposite direction: falling shares, rising VIX.
Also tend to move against the VIX, especially on sharp sell offs.
On fear days gold and the yen can rise with the VIX, but the link is loose.
Tips for trading VIX volatility index (VIX)
Spikes tend to fade
After a sharp jump, a VIX that closes back below the spike candle's midpoint is a fading idea; a new high above the spike proves it wrong.
Mind the drift
A long VIX CFD held through calm weeks can lose value to the futures roll. If the VIX does not rise within your planned time, treat the idea as wrong and exit.
Check US500 first
A long VIX idea needs US500 to be breaking lower. If US500 closes back above the level it broke, the idea is proved wrong.
Event days
Expected volatility often drops right after Fed or CPI releases. A short VIX idea into the release is proved wrong by a 15 minute close above the pre-release high.
Connect a cTrader account once and VIX appears on WickSpeak at your broker's own prices. Key levels show the previous day high and low, pivots and average daily range levels with their distance in points, and you can chart US500 beside it. Every indicator writes a plain-English reading on the live candle, including what would prove it wrong, and a Playbook play can alert you, draw a trade plan, paper trade or, only on a play where you switched live trading on, place a trade inside the guardrails you set.
Related markets
Sources: cboe.com, cboe.com, cdn.cboe.com, pepperstone.com, ic.com, federalreserve.gov, bls.gov. Checked 2026-11-05. Broker hours follow your broker's server clock and can differ.
Questions traders ask
What is the VIX?
The VIX is Cboe's index of expected S&P 500 volatility over the next 30 days, worked out from S&P 500 option prices. It usually rises when shares fall, which is why it is called the fear index.
Can you trade the VIX directly?
No. The index is a calculation. Traders use VIX futures on Cboe, VIX options, or VIX CFDs, which are typically priced from VIX futures rather than from the index itself.
Why is my VIX CFD price different from the VIX index?
Because the CFD follows a VIX futures contract, which prices where traders expect the VIX to be at that contract's settlement. When later futures sit above the index, the CFD is above the index too and tends to drift lower if calm continues.
What are VIX trading hours in the UK?
VIX futures and most VIX CFDs trade from 23:00 UK on Sunday to 22:00 UK on Friday, with a daily break from 22:00 to 23:00 UK. The main session is 14:30 to 21:00 UK.
What is a high VIX reading?
There is no fixed line, but the VIX tends to sit lower in calm markets and jump in sell offs. Compare today's reading with its own recent range rather than a single number.