The uvix stock price has maintained a tight coupling with SPX implied volatility. Portfolio managers are increasingly favoring UVIX to complement hedging baskets against macro downside risks. Despite no immediate oil supply disruptions, market watchers like Andy Lipow, the president of Lipow Oil Associates, warn that the initial oil market reaction is driven by fears of the conflict spreading to other regions like Iran, per a Yahoo Finance article. Iran is both a key oil producer and a supporter of Hamas. As a result, leveraged energy ETFs surged last week (read: Oil Soars On Israel-Hamas Conflict: Sector ETFs to Gain/Lose). The S&P 500 went down almost 10% that month; the UVIX gained more than 35%. uvix stock price’s movement this week is tightly linked to shifts in the S&P 500 volatility term structure. Forward VIX pricing has steepened, implying increased UVIX roll yield impact in short tenors.
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