Arabic version: قفزة في مؤشر «فيكس» مع إعادة المتداولين تقييم مخاطر السوق

According to Cnbc, the Cboe Volatility Index, or VIX, jumped as much as 5.7 points to above 28 about 90 minutes after Thursday’s opening bell. From its intraday low to high, the index moved more than 11 points, its largest one-day move since April 9.

The sharp change followed a market decline that left the S&P 500 down 3% and headed for its worst drop since April 2025. The VIX reached its highest level since March 31, the day after the S&P 500 bottomed following a selloff as tensions between Iran, Israel and the United States intensified.

Some traders argued that the volatility reading remained comparatively restrained. A common market rule of thumb is that 16 VIX points equate to a 1% move in the S&P 500, suggesting a 3% index decline could be associated with a higher level of implied volatility.

Noel Smith said his data pointed toward reducing risk, while his instinct saw the decline as a potential dip-buying opportunity. He said oil and rates were relatively unchanged and described the market action as a liquidation, citing what he had heard regarding a hedge fund.

Options activity added to the focus on the VIX. On Wednesday, the VanEck Semiconductor ETF fell 3% while the VIX dropped more than four points, the first such concurrent move in market history, according to data from the X account OddStats. By midday Thursday, nearly 800,000 VIX calls had traded, 3.5 times the 30-day average, according to Cboe data.