# VIX Definition

## VIX Index Definition

**VIX** is the ticker symbol for **CBOE Volatility Index**. The index, calculated by Chicago Board Options Exchange (CBOE), measures expected volatility of S&P500 stock index in the next 30 days. The exact definition of VIX is: **implied volatility of a hypothetical S&P500 option with 30 days to expiration**.

## VIX Definition in More Detail

For a more detailed explanation, including definitions of the other terms used in the definition above (like *ticker symbol*, *options*, or *implied volatility*), see What is VIX?

## VIX Calculation

The VIX Index is calculated from prices and implied volatility of a broad range of near term options on S&P500. To keep the time period of the implied volatility constant 30 days, options with different time to expiration are weighted accordingly. You can see a more detailed explanation here: VIX Calculation.

## Trading the VIX, Options, and Futures

The VIX Index has active **derivative markets** – VIX options and VIX futures. The index and its derivatives have several **specific characteristics** with important implications for trading. For more details, including the specifics, possible sources of **trading ideas**, and **how to research and analyze the VIX**, see Trading the VIX.