CBOE launches crude oil volatility index
The index measures the market's expectation of 30-day volatility of crude oil prices by applying established CBOE Volatility Index (VIX) methodology to options on the United States Oil Fund (USO), spanning a range of strike prices.
The USO is an exchange-traded security designed to track changes in crude oil prices. By holding near-term futures contracts and cash, the performance of the fund is intended to reflect the spot price of West Texas Intermediate crude oil, less USO expenses.
CBOE began
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