When does the VIX trade in Estonian time?

The VIX is calculated from S&P 500 options, so it moves with the US session: 16:30–23:00 Tallinn time, plus premarket and after-hours activity.

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The VIX Volatility Index, Explained

Q: What is the VIX index?

The VIX is the CBOE Volatility Index — a real-time measure of how much volatility the options market expects from the S&P 500 over the next 30 days. It rises when investors expect big swings (fear) and falls when markets are calm.

Q: What is a high VIX level?

Below 15 is calm, 15–20 is normal, 20–30 signals elevated stress, and above 30 indicates serious fear. Historically the VIX only crossed 30 during crises — its record close was 82.69 in March 2020.

What the "fear gauge" measures, what its levels mean, and how to track it live from Estonia

Last updated: October 2026

The VIX is the CBOE Volatility Index — Wall Street's "fear gauge". It reads the prices of S&P 500 options and converts them into a single number: how large a swing the market expects over the next 30 days, expressed as an annualised percentage. A VIX of 20 means the options market is pricing roughly a 20% annualised move; it does not predict direction, only expected magnitude.

How to Read VIX Levels

VIX level	Market mood	What it usually means
Below 12	Very calm	Complacency — low volatility, grinding markets
12 – 17	Normal	Typical healthy market conditions
17 – 20	Watchful	Mild unease; volatility starting to build
20 – 30	Elevated stress	Real fear in the market; sharp daily swings
30+	Panic	Crisis conditions; historically rare outside major events

For context: the VIX touched its all-time closing high of 82.69 in March 2020 during the COVID crash, and spiked above 65 intraday on 5 August 2024 during the global sell-off. For most of the past decade it has traded between 12 and 20.

Four Things Traders Watch on the VIX

Spikes: the VIX jumps fastest when the S&P falls hard — it is close to a mirror image of the market in selloffs.
Sticky lows: a VIX that stays unusually low for weeks can signal that investors are underpricing risk.
The 20 line: many risk models treat a sustained break above 20 as the moment to reduce position sizes.
Time of day: the VIX only truly moves with the US session — 16:30–23:00 Tallinn time — so Estonian traders see overnight European news reflected at the US open.

Frequently Asked Questions

What is the VIX index?

It is the CBOE Volatility Index: a real-time estimate of expected 30-day S&P 500 volatility, calculated from option prices. It rises with fear, falls with calm — regardless of whether the market is going up or down.

What is a high VIX level?

Above 20 means elevated stress; above 30 means serious fear. The all-time record close was 82.69 in March 2020.

Can I see the VIX live from Estonia?

Yes — IndexNexa's Volatility Radar shows the live VIX value with a calm-to-panic gauge, plus EEST session countdowns so you know exactly when it can move. Open the free terminal.

Track the VIX Live with the Volatility Radar

IndexNexa's signature Volatility Radar puts the live VIX, a stress gauge and US-session countdowns on one screen — built EEST-native for Estonian and Baltic traders.

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