Index futures and options volume grows as market volatility spikes; CME Group & Cboe

After notching a 1% gain in 2020 through February 21, U.S. small caps as reflected by the Russell 2000® Index took a major turn, losing nearly 22% in the eleven trading days ended March 9.

At the same time, the Cboe Russell 2000 Volatility Indexsm (RVXsm), which measures the market’s expectation of 30-day volatility implicit in the prices of near-term Russell 2000 Index options, reached a multi-year high of 42.47 on February 28 and closed at a near record high of 52.96 on March 9, significantly higher than its historical long-term average of 23.45. 

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