How do VIX futures work?

Related questions

1. How is VIX calculated?
2. How is the VIX calculated?
3. How the VIX is calculated?
4. How is VIX settlement calculated?
5. What is long volatility?
6. What does Uvxy track?
7. Does VIX expire?
8. What is Vixy ETF?
9. Are VIX options American or European?
10. What happens when VIX options expire in the money?

Tags

1. #price
2. #wednesday
3. #index
4. #opening
5. #refers
6. #expire
7. #quotation
8. #settle
9. #contracts
10. #determine
11. #expiration
12. #special
13. #before
14. #options
15. #friday
16. #always
17. #contract
18. #actual
19. #settlement
20. #futures