VIX (Chicago Options Exchange Volatility Index), also known as market panic index, is used to reflect S&; The volatility of P500 index futures, which measures the expected volatility of the market in the next 30 days, is usually used to evaluate future risks, so it is also called panic index.
Although the VIX index reflects the fluctuation degree in the next 30 days, it is expressed as an annualized percentage and appears with the probability of normal distribution.
The VIX index itself cannot be traded. But traders can choose VIX options and VIX futures.