VIX rises 38.05% to 22.93 as technology selloff renews market volatility
Published on 11/05/2026 at 18:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSVIX volatility surges during Thursday trading
- The Cboe VIX was 22.93 on November 5, up 38.05 percent from its previous close of 16.61.
- CNBC reported that the index briefly rose above 28 as investors reacted to a sharp technology and semiconductor selloff.
- Heavy VIX call trading pointed to increased demand for protection as equity-market risk was repriced.
The Cboe Volatility Index rose sharply during Thursday trading as investors reassessed risk after a broad technology and semiconductor selloff. Cboe reported the VIX at 22.93 as of 4:32 p.m. on November 5, up 38.05 percent, or 6.32 points, from the previous close of 16.61. The index opened at 17.14.
The VIX measures market expectations for near-term volatility based on S&P 500 options. Its jump followed a sharp reversal in risk appetite after the previous session's post-election rally. The move does not by itself establish the cause of the equity decline, but it shows that options markets were pricing a materially wider range of potential S&P 500 outcomes.
Technology selloff lifts hedging demand
CNBC reported that the VIX rose above 28 roughly 90 minutes after the US opening bell and reached its highest level since March 31. The report linked the market stress to a sharp decline in semiconductor shares and described the session as a liquidation rather than a move driven by major changes in oil or interest rates. It also said that nearly 800,000 VIX calls had traded by midday, about 3.5 times the 30-day average.
The intraday range was significant: CNBC said the VIX moved by more than 11 points between its low and high, its largest such move since April 9. For investors, that indicates a rapid repricing of short-dated protection rather than a gradual increase in implied volatility. The VIX remained above its Wednesday close even after trading below the session high.
Volatility premium returns
The move contrasts with the previous session, when the election result was followed by a sharp decline in the VIX. Earlier on November 5, Saxo described the election-related volatility premium as largely removed and reported a VIX level of 16.61 at about 5:00 a.m. Central European Time. Thursday's later rise therefore marked a renewed volatility shock, with market attention shifting from election uncertainty to technology valuations and broader equity positioning.
The VIX is an indicator of expected S&P 500 volatility, not a direct forecast of the index's next move. Its level can rise alongside falling equity prices, but the relationship is not fixed over every intraday interval. Investors tracking the volatility gauge should therefore also consider the S&P 500, options positioning and whether the elevated reading persists beyond the immediate selloff. Further VIX coverage is available on the VIX topic page.
