Review of Volatility in 2014 (Part 2) – Brazil VIX Hit 72.83; Oil VIX Hit 57.55

Dec. 22, 2014 – Looking back on commodity volatility and global volatility in 2014, I’d like to highlight a couple of volatility indexes that shot up to daily closing highs for the year –

  1. The CBOE Crude Oil ETF Volatility Index (OVX) closed at 57.55 on Dec. 15 as oil prices plummeted (the average daily close for the OVX this year is only 22.3), and
  2. The CBOE Brazil ETF Volatility Index (VXEWZ) closed at 72.83 on October 20, before the presidential election in Brazil (the average daily close for the VXEWZ this year is 31.3),

So far in 2014 (through December 22) –

  • CBOE Crude Oil ETF Volatility Index (OVX) is up 209%,
  • the CBOE Brazil ETF Volatility Index (VXEWZ) is up 45%, and
  • crude oil prices are down about 44%.

Futures and options are available on the OVX, VXEWZ, VIX, and other volatility indexes.


A - B Commdo Glob


Earlier this month CBOE Holdings, Inc. announced that it has entered into a licensing agreement with MSCI Inc., a leading provider of investment decision support tools worldwide, to offer options trading on several MSCI indexes.  Under the agreement, in the U.S., options on the MSCI indexes will be solely listed for trading on the Chicago Board Options Exchange (CBOE). The six indexes included in the agreement are the MSCI EAFE Index, MSCI Emerging Markets Index, MSCI ACWI Index, MSCI USA Index, MSCI World Index and the MSCI ACWI ex-USA Index.


CBOE Holdings offers many tools to manage portfolios in times of changing volatility. For more information on the indexes above, please visit