VIX at 19.92 After 22.31% Slide; CPI Ahead
Published on 11/10/2026 at 13:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSVolatility Before the CPI Release
- The VIX closed at 19.92 on November 9, down 22.31 percent from 25.64 on the previous trading day.
- Cboe linked the decline to a broad equity rebound, falling oil prices and easing demand for immediate downside protection.
- The US Bureau of Labor Statistics is scheduled to publish October CPI at 8:30 a.m. Eastern time on November 10.
The VIX enters Tuesday's European midday at a markedly lower level after Monday's broad US equity rebound. The index closed at 19.92 on November 9, down 5.72 points, or 22.31 percent, from the previous trading session's close of 25.64. This is a pre-market outlook for the next US session, not an intraday reading for Tuesday.
Monday's volatility retreat
In its November 9 market commentary, Cboe said the VIX fell below 20 as stocks staged a broad-based relief rally. The Nasdaq Composite gained 2.7 percent, while the S&P 500 rose 2.3 percent and the Dow Jones Industrial Average added more than 1,100 points. Cboe also pointed to a steep decline in oil prices and renewed strength in technology shares as features of the session.
The move represents a substantial easing from the volatility spike earlier in the month. Cboe's VIX market page lists 25.64 as the previous close, while its daily commentary records Monday's final VIX level at 19.92. The historical price record likewise shows Monday's close and the prior Friday close. The calculation is (19.92 / 25.64 - 1) x 100, rounded to two decimal places.
CPI is the next test
Attention now turns to the US inflation release. The US Bureau of Labor Statistics schedule lists the Consumer Price Index for October 2026 at 8:30 a.m. Eastern time on Tuesday, November 10, equivalent to 14:30 Berlin time. The same schedule lists October real earnings for that time. The data arrive after the configured European slot begins and could provide a fresh catalyst before the US cash session.
For investors, the lower VIX indicates that near-term S&P 500 option-implied volatility had retreated from Monday's opening level, but it does not eliminate event risk. A CPI result that changes expectations for the Federal Reserve's December policy decision could alter demand for downside protection. The VIX is an expectations measure derived from S&P 500 option prices, rather than a direct forecast of the market's direction.
Further VIX coverage is available on the VIX topic page.
