Cboe Explores Perpetual VIX Futures Without Expiry Dates

Cboe is exploring perpetual futures tied to the VIX volatility index. This structure would bring a crypto-market design into one of Wall Street's main volatility markets.

The proposed contracts would avoid the expiry dates used by standard futures, giving traders continuous VIX exposure without the monthly or weekly expiration cycle. This could give traders another way to maintain continuous volatility exposure.

Cboe already operates major VIX futures and options markets today. The VIX tracks expected 30-day volatility in the S&P 500 through options prices, with traders often referring to it as the 'fear gauge' because demand for protection can rise sharply during market selloffs.