Mini Volatility Index Futures Margin & Contract Specifications

What Is the Mini Volatility Index Futures Contract?

Mini Volatility Index futures are futures contracts based on the VIX Volatility Index. The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) measures the implied volatility of S&P 500 index options over the next 30 days and is often referred to as the “fear index.” A higher VIX indicates greater market fear and rising risk aversion.

Mini Volatility Index futures do not trade stock prices; instead, they trade the level of market fear and uncertainty. These contracts are one-tenth the size of the standard VIX futures, making them a smaller-sized futures product designed for investors seeking lower capital exposure.

VIX Levels	Market Interpretation
Below 15	Extremely optimistic / Market stability
15 ~ 25	Normal range / Typical volatility
25 ~ 35	Rising fear / Warning signals
Above 40	Extreme panic / Market crash

Factors Affecting Volatility Index Prices

1. Geopolitical and Policy Risks

Whenever risks cannot be easily priced by the market, the VIX almost invariably rises. Concerns about economic recession, financial crises, geopolitical conflicts (such as wars, sanctions, or energy crises), sudden policy shifts (tariffs, capital controls, regulatory tightening), and black swan events (pandemics, systemic financial accidents) all increase uncertainty and tail risks. As market fear spreads, the VIX index is typically driven higher.

2. Uncertainty Surrounding U.S. Federal Reserve Policy

Uncertainty is the fuel of volatility. When signals from the U.S. Federal Reserve regarding rate hikes or cuts are unclear, when inflation appears out of control or policy tightening seems excessive, or when key economic data—such as Nonfarm Payrolls (NFP), the Consumer Price Index (CPI), or retail sales—deviate significantly from market consensus, economic outlook uncertainty rises, often pushing the VIX higher.

3. Hedging Demand from Institutional Investors

Institutional investors, such as hedge funds, often buy S&P 500 options to protect their portfolios. When demand for this type of “insurance” increases, implied volatility in options rises, which in turn drives the VIX higher.

4. The VVIX Index

The VVIX Index is known as the “volatility of volatility” and measures the expected volatility of VIX options. A rising VVIX often serves as a leading indicator that the VIX may experience large swings.

Mini VIX Futures Margin

How much money is needed to trade futures? At the beginning, the required margin is the initial margin. While holding a position, the margin after deducting floating profits and losses must remain above the maintenance margin; otherwise, a margin call will be issued. For day-trading margin, only half of the margin is required, provided the position is closed before the market closes.

Foreign Futures

Mini VIX Futures Contract Specifications

Here is a summary for traders of the contract specifications, exchange, trading hours, minimum price fluctuation, and available trading months for Mini VIX FuturesFutures.

Mini VIX FuturesLast Trading Day

Futures