There is a lot of complexity in the volatility trading arena, and as you listen to such news and read these stories is it important to understand that "The VIX" can refer to many different things. There are products that track, products that short, and also products that add leverage. Others have made allegations that, for these reasons and more, the auction process used to calculate the final settlement price is vulnerable to manipulation. <> The marks left by 2020 won’t disappear entirely. stream Rather than use bids, offers, and trades for the same VIX futures, the CBOE runs a special auction procedure for S&P 500 Index options that are 30 days from expiry.1. Cboe Futures Exchange Daily Market Statistics. Daily futures settlement prices are based on the last bid and offer for the futures contract before the close, and this closing value is used for daily mark-to-market and position margining purposes. VIX futures are like forward contracts on "cash" VIX (which itself measures volatility over the next 30 days). �ك 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