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What is a vix?
The Chicago Board Options Exchange Volatility Index is abbreviated as VIX. It is the most well-known volatility index in the markets, and it is used to track volatility on the S&P 500 index.

A volatility index measures a market's proclivity to experience sudden, unexpected price movements, or its relative instability. The VIX accomplishes this by aggregating the implied volatility on a set number of S&P 500 put and call options.

https://www.cboe.com/tradable_products/vix

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