Weekend Review – Volatility Indexes and ETPs – 7/25 – 7/29

It was as quiet a week as I can remember with respect to the S&P 500 focused volatility indexes.  An quieter and the lines below would look like a single line.

VXST VIX VXV VXMT Curve

The long ETPs really suffered last week as we entered the week in very steep contango when comparing VIX with the August and September futures.  Of course what is bad for VXX is good for XIV and SVXY which both rose over 9% and up over 30% on the year.  VVIX actually rose a tad last week as well as VIX option buyers took advantage of the low level of the underlying markets.

VXX Table

As mentioned previously, SVXY is now up over 30% for 2016, while VXX has lost almost 50% and UVXY is now down over 80% after being up as much as 100% earlier this year.

VXX UVXY SVXY Perf

Finally a check to figure out where the volatility was last week.  VXO, which focuses on OEX options actually rose last week after having a very difficult time the previous week.  After moving past VXO it appears energy is where volatility is at with OVX and VXXLE rising.

Volatility Indexes Week over Week