VVIX
a.k.a. VIX of VIX
An index measuring how much traders expect the VIX itself to swing: the volatility of volatility.
In plain English
An index measuring how much traders expect the VIX itself to swing: the volatility of volatility.
The VVIX does to the VIX what the VIX does to the S&P 500. It is built from VIX option prices and shows how violently traders expect the fear gauge to move. When the VVIX spikes, traders are bracing not just for turbulence, but for turbulence in how much turbulence there is.
It is a specialist tool, mostly watched by options and volatility traders as an early warning of stress.
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