Futures contracts on the CBOE Volatility Index (VIX) are up nearly 4% today. A slight pullback from all-time highs on Wall Street has weakened market sentiment, triggering a sharp rise in hedging demand and driving the VIX higher. Some institutional players may be positioning ahead of a potential market correction. As for now, US500 loses more than 0.6% falling to 6280 pts level, preparing for a start of the earnings season.

VIX futures curve. Source: Bloomberg Finance L.P.
The VIX futures curve indicates that contracts with longer maturities (e.g., February 2026) are priced higher than both the spot VIX and the near-term contracts (e.g., July 2025). This reflects expectations of increased volatility in the months ahead. However, such a structure is relatively typical given the prevailing optimism in the equity market. On the flip side, following the recent sell-off and oversold conditions, the VIX may react sharply—especially if the downward momentum in U.S. stocks accelerates.
VIX (Daily interval)

Source: xStation5
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