Traders soured on Vix futures in 2018

Traders’ appetite for US volatility cratered at the end of 2018, with open interest in Vix futures contracts touching lows last plumbed in the aftermath of last February’s equity market rout.

Total open interest in Vix futures at end-2018 was 369,483 contracts, 32% lower than in mid-September and a whopping 44% down from its peak of 653,697 in January.

Outstanding contracts shrivelled early in the fourth quarter, coinciding with a 5% drop in the S&P 500 and a 33% climb in the Vix index

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