VIX options are some of the most actively traded options in the market, which means VIX Index options are something you need to understand.
There are certain things you need to know before trading VIX options:
1. How VIX options are not priced to the VIX Index, but to the matching VIX future.
2. How VIX options settle to a Special Opening Quotation under the ticker VRO.
3. How long-term VIX options are much less sensitive to changes in the VIX Index than short-term VIX options.
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