312.347.4800
© 2008 ADVANTAGE FUTURES, LLC
AVAILABLE PRODUCTS ➤ EQUITIES AND INDEX ➤ VIX FUTURES
Advantage Futures is excited to announce our membership with the CBOE Futures Exchange (CFE), broadening our direct access offerings. Advantage clients can now trade CBOE Volatility Index (VIX), the world’s barometer for equity market volatility. CFE is an all-electronic, open access market model with dedicated market makers and market participants providing liquidity. VIX is based on real-time prices of options on the SPX, listed on the Chicago Board Options Exchange, reflecting the consensus view of 30-day expected stock market volatility.
Call Advantage Futures today at 312.347.4800 to learn more about trading the VIX.
1-YR CBOE VOLATILITY INDEX (Daily OHLC)
CONTRACT SPECIFICATIONS
Trading Hours:
➤ 8:30 am to 3:15 pm CST
Contract Size:
➤ $1,000 times the VIX
➤ 1 full VIX point equals $1,000 per contract (move from 40.25 to 41.25)
➤ Minimum price fluctuation is .05, or $50 per contract (move from 40.25 to 40.30)
Margin Requirements:
➤ $8,800 initial/ $7,000 maintenance
➤ Hedge/TPH Permit*- $7,000 initial/ $7,000 maintenance
VIX Facts:
➤ 2008 Average Daily Volume (Range): 4,591 (197 to 25,524)
➤ 2008 Average Daily Open Interest (Range): 50,512 (11,174 to 76,951)
➤ 2008 Average Daily Price Range (Cash Index, Low to High): 3.76 points (0.44 to 27.64)
➤ 2009 Average Daily Volume (Range): 2,180 (828 to 4,159)
➤ 2009 Average Daily Open Interest (Range): 10,971 (8,758 to 14,380)
➤ 2009 Average Daily Price Range (Cash Index, Low to High): 4.01 points (1.42 to 10.02)
➤ 52-Week High/Low (cash): 86.50 to 19.75 (represents $66,750 per futures contract)
Spreads:
➤ $625/$500 (within first three or next 11 contracts)
➤ $1,250/$1,000 (between first three and next 11 contracts)
Transaction Fees:
➤ Range from $0.25 to $1.00 per contract side, depending on status/order type-
➤ CBOE member permit holder $0.50
➤ CBOE member trading own account $0.50
➤ Non-CBOE member permit holder $1.00
➤ Customer $1.00
➤ Day Trade** $0.25
*TPH Permit means the account of a person processing a Trading Privilege Holder Permit that allows access to the CBOE Futures Exchange, LLC trading system.
**The day trade rate is a rebate program in place through 12/31/2009. The difference between the applicable rate and the $0.25 day trade rate for all trades entered and liquidated in the same product month each day is returned.
TRADE THE VIX
TAKE ADVANTAGE OF THE VOLATILITY IN TODAY’S MARKETS!
DISCLAIMER
This information is not to be construed as an offer to sell or a solicitation or an offer to buy commodities herein named. The factual information of this report has been obtained from sources believed to be reliable, but it is not necessarily all inclusive and is not guaranteed as to the accuracy and is not to be construed as representation by Advantage. The risk of trading futures and options can be substantial. Each investor must consider whether this is a suitable investment. Past performance is not indicative of future results.
Account downloads are not an offer of solicitation for the purchase or sale of any Commodity. Before trading one should be aware that with potential profits there is also potential for losses that may be very large. Futures investing involves risk and is not suitable for everyone. Those acting on this information are responsible for their own actions.
