Fear Index Continues Advanced as Stocks Pop New Highs

The CBOE VIX Volatility Index traded within a neutral range on Wednesday.
The CBOE VIX (VXX) remained elevated on Wednesday, even as stocks hit new all-time highs, a sign investors were hedging against an uncertain election cycle.

The CBOE Volatility Index, generally known as the VIX, traded between 25.53 and 26.61 on a range of 1-100 where 20 represents the historical average. VIX ended up 2.4% at 26.74.

The stocks market, the large-cap S&P 500 Index (SPY) climbed 1.6% on Wednesday.

iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA: VXX) enables trading on the S&P 500 VIX Short Term Futures Index Total Return of interest, capital gains, dividends, and distributions realized over a given period of time.
The Index uses CBOE Volatility Index futures by a long position in the first and second-month VIX Futures contracts. VXX advanced 2.7%.

ProShares Short VIX Short-Term Futures (SVXY) to track the opposite daily review of the S&P 500 VIX Short Term Futures Index. SVXY declined by 1.4%. i

ProShares UltraShort Term VIX Futures: (UVXY) UVXY is designed to deliver 1.5X (leveraged) returns of the daily changes in the S&P 500 VIX Short Term Futures Index. It tacks the two front months of the futures contract. UVXY advanced 4%.

The Final Word: traders continue to follow the global spread of COVID-19. As of Wednesday, more than 25.8 million people had been infected with the novel disease, including 6 million in the United States.