Muted VIX Volume Will Make Cboe’s Slide Even Worse, Says JPMorgan
BofA's Subramanian Says Italy Won't Hurt U.S. Equities
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The Italian political imbroglio was a boon for haven assets like U.S. Treasuries on Tuesday. But it didn’t spur a feeding frenzy in the instruments equity investors use to protect against stock swings.
The dearth of demand bodes ill for exchange operator Cboe Global Markets Inc., whose proprietary products include options and futures on the oft-vexed VIX index. The so-called "fear gauge" that tracks the 30-day implied volatility on the S&P 500 Index jumped 3.8 points on Tuesday, its fifth-largest jump of 2018. Yet volume in options linked to the VIX were meager.