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Vol. II · No. 304Saturday, 31 October 2026

Intelligence · the data room

VIX Term Structure

VIX spot vs futures. Contango signals complacency. Backwardation signals fear. The structure tells the story.

Updated 31 Oct 2026

2026-10-30	34.6	fear	34.6	0	0.85	0.58	37.8	41.4	20.7	-3.6
2026-10-29	35.8	fear	35.9	-0.10	0.9	0.54	37.8	41.4	20.7	-3.6
2026-10-28	33.6	fear	33.6	0	0.93	0.59	36.9	45.8	17.3	-8.9
2026-10-27	27.1	fear	27.1	0	0.86	0.6	36.9	45.8	17.3	-8.9
2026-10-26	21	extreme fear	19.8	1.20	0.93	0.67	36.9	45.8	17.3	-8.9
2026-10-25	21	extreme fear	19.8	1.20	0.93	0.67	36.9	45.8	17.3	-8.9
2026-10-23	19.8	extreme fear	19.8	0	0.94	0.69	36.9	45.8	17.3	-8.9
2026-10-22	31.3	fear	31.4	-0.10	0.87	0.52	36.9	45.8	17.3	-8.9
2026-10-21	27.2	fear	27.2	0	0.87	0.56	38.7	41.6	19.7	-2.9
2026-10-20	23	extreme fear	23.1	-0.10	0.87	0.55	38.7	41.6	19.7	-2.9
2026-10-19	17.9	extreme fear	31.5	-13.60	0.92	0.65	38.7	41.6	19.7	-2.9
2026-10-18	17.9	extreme fear	31.5	-13.60	0.92	0.65	38.7	41.6	19.7	-2.9
2026-10-16	31.5	fear	31.5	0	0.8	0.62	38.7	41.6	19.7	-2.9
2026-10-15	32.3	fear	32.3	0	0.88	0.61	38.7	41.6	19.7	-2.9
2026-10-14	44.6	fear	44.7	-0.10	0.83	0.54	40.3	39	20.8	1.3
2026-10-13	45.4	neutral	45.7	-0.30	0.91	0.62	40.3	39	20.8	1.3
2026-10-12	45	fear	37.9	7.10	0.82	0.56	40.3	39	20.8	1.3
2026-10-09	37.9	fear	37.9	0	0.89	0.62	40.3	39	20.8	1.3
2026-10-08	44.5	fear	44.5	0	0.87	0.63	40.3	39	20.8	1.3
2026-10-07	47.2	neutral	47.2	0	0.82	0.57	34.6	46.5	18.9	-11.9
2026-10-06	43	fear	43	0	0.83	0.59	34.6	46.5	18.9	-11.9
2026-10-05	31.2	fear	28.1	3.10	0.78	0.58	34.6	46.5	18.9	-11.9
2026-10-04	31.2	fear	28.1	3.10	0.78	0.58	34.6	46.5	18.9	-11.9
2026-10-02	28	fear	28.1	-0.10	0.9	0.57	34.6	46.5	18.9	-11.9
2026-10-01	30.7	fear	30.8	-0.10	0.88	0.53	34.6	46.5	18.9	-11.9
2026-09-30	31.5	fear	31.6	-0.10	0.76	0.38	32.7	48.1	19.2	-15.4
2026-09-29	33.8	fear	33.8	0	0.88	0.58	32.7	48.1	19.2	-15.4
2026-09-28	37	fear	36.1	0.90	0.75	0.52	32.7	48.1	19.2	-15.4
2026-09-27	37	fear	36.1	0.90	0.75	0.52	32.7	48.1	19.2	-15.4
2026-09-25	36	fear	36.1	-0.10	0.8	0.55	32.7	48.1	19.2	-15.4
2026-09-24	34.6	fear	34.7	-0.10	0.86	0.46	32.7	48.1	19.2	-15.4
2026-09-23	35.2	fear	35.2	0	0.78	0.47	28.8	53.3	17.9	-24.5
2026-09-22	33.7	fear	33.7	0	0.74	0.53	28.8	53.3	17.9	-24.5
2026-09-21	29.1	fear	28.7	0.40	0.81	0.58	28.8	53.3	17.9	-24.5
2026-09-19	29.1	fear	28.7	0.40	0.81	0.58	28.8	53.3	17.9	-24.5
2026-09-18	28.7	fear	26.5	2.20	0.79	0.52	28.8	53.3	17.9	-24.5
2026-09-17	26.5	fear	28.7	-2.20	0.98	0.69	28.8	53.3	17.9	-24.5
2026-09-16	28.7	fear	31.1	-2.40	0.86	0.56	38	39.3	22.7	-1.3
2026-09-15	31.1	fear	33.3	-2.20	0.91	0.67	38	39.3	22.7	-1.3
2026-09-14	33.3	fear	33.1	0.20	0.86	0.58	38	39.3	22.7	-1.3
2026-09-13	33.3	fear	33.1	0.20	0.86	0.58	38	39.3	22.7	-1.3
2026-09-12	33.3	fear	33.1	0.20	0.86	0.58	38	39.3	22.7	-1.3
2026-09-11	33.3	fear	38.2	-4.90	0.83	0.6	38	39.3	22.7	-1.3
2026-09-10	39	fear	40.6	-1.60	0.88	0.67	38	39.3	22.7	-1.3
2026-09-09	40.8	fear	41.9	-1.10	0.8	0.48	39.7	37.6	22.7	2.1
2026-09-08	41.9	fear	35.2	6.70	0.76	0.58	39.7	37.6	22.7	2.1
2026-09-07	41.9	fear	35.2	6.70	0.76	0.58	39.7	37.6	22.7	2.1
2026-09-06	41.9	fear	35.2	6.70	0.76	0.58	39.7	37.6	22.7	2.1
2026-09-04	35.2	fear	35.2	0	0.76	0.47	39.7	37.6	22.7	2.1
2026-09-03	33.2	fear	44.6	-11.40	0.84	0.56	39.7	37.6	22.7	2.1
2026-09-02	44.6	fear	49.7	-5.10	0.95	0.67	32.9	44.4	22.6	-11.5
2026-09-01	49.7	neutral	54.4	-4.70	0.84	0.7	32.9	44.4	22.6	-11.5
2026-08-31	54.4	neutral	58.2	-3.80	0.84	0.62	32.9	44.4	22.6	-11.5
2026-08-28	57.9	greed	58.2	-0.30	0.73	0.39	32.9	44.4	22.6	-11.5
2026-08-27	54.9	neutral	55.2	-0.30	0.87	0.64	32.9	44.4	22.6	-11.5
2026-08-26	58.8	greed	55	3.80	0.83	0.57	35.5	39.9	24.6	-4.4
2026-08-25	55	neutral	55	0	0.91	0.68	35.5	39.9	24.6	-4.4
2026-08-24	55.2	greed	52.5	2.70	0.72	0.51	35.5	39.9	24.6	-4.4
2026-08-23	55.2	greed	52.5	2.70	0.72	0.51	35.5	39.9	24.6	-4.4
2026-08-21	52.5	neutral	52.5	0	0.78	0.58	35.5	39.9	24.6	-4.4
2026-08-20	56.3	greed	54.4	1.90	0.8	0.52	35.5	39.9	24.6	-4.4
2026-08-19	54.3	neutral	54.4	-0.10	0.95	0.64	34.7	37.9	27.4	-3.2
2026-08-18	59.9	greed	60	-0.10	0.92	0.65	34.7	37.9	27.4	-3.2
2026-08-17	65	greed	66.1	-1.10	0.77	0.52	34.7	37.9	27.4	-3.2
2026-08-16	65	greed	66.1	-1.10	0.77	0.52	34.7	37.9	27.4	-3.2
2026-08-14	66	greed	66.1	-0.10	0.79	0.59	34.7	37.9	27.4	-3.2
2026-08-13	62.1	greed	62.1	0	0.84	0.61	34.7	37.9	27.4	-3.2
2026-08-12	60.7	greed	60.8	-0.10	0.81	0.63	1	1	1	0
2026-08-11	64.4	greed	64.4	0	0.86	0.61	1	1	1	0
2026-08-10	63.7	greed	59.7	4.00	0.76	0.54	1	1	1	0
2026-08-09	63.7	greed	59.7	4.00	0.76	0.54	1	1	1	0
2026-08-07	59.6	greed	59.7	-0.10	0.86	0.57	1	1	1	0
2026-08-06	59.5	greed	59.7	-0.20	0.88	0.6
2026-08-05	58.2	greed	58.2	0	0.69	0.46
2026-08-04	46	neutral	45.8	0.20	0.8	0.55
2026-08-03	42.5	fear	38.9	3.60	0.91	0.63
2026-08-02	42.5	fear	38.9	3.60	0.91	0.63	1	1	1	0
2026-08-01	42.5	fear	38.9	3.60	0.91	0.63
2026-07-31	39.2	fear	38.9	0.30	0.91	0.61
2026-07-30	32.4	fear	32.3	0.10	1.05	0.61
2026-07-29	38.6	fear	38.5	0.10	0.96	0.71
2026-07-28	40	fear	39.9	0.10	0.94	0.66
2026-07-27	39.4	fear	39.4	0	0.99	0.79	1	1	1	0
2026-07-24	39.7	fear	39.6	0.10	0.88	0.61
2026-07-23	43	fear	43	0	1.01	0.67
2026-07-22	41.1	fear	41	0.10	0.92	0.65
2026-07-21	37.6	fear	37.5	0.10	1	0.66
2026-07-14	43.7	fear	43.7	0	0.96	0.67
2026-07-13	49.5	neutral	47.3	2.20	0.81	0.55
2026-07-12	49.5	neutral	47.3	2.20	0.81	0.55	1	1	1	0
2026-07-10	47.3	neutral	47.3	0	0.86	0.57
2026-07-09	47.2	neutral	42.3	4.90	1.03	0.86	1	1	1	0
2026-07-08	43.5	fear	43	0.50	0.9	0.69	1	1	1	0
2026-07-07	44.5	fear	43.9	0.60	0.9	0.62
2026-07-06	31.9	fear	31.4	0.50	0.79	0.53	1	1	1	0
2026-07-04	31.9	fear	31.4	0.50	0.79	0.53
2026-06-23	34.3	fear	34.7	-0.40	0.92	0.6
2026-06-21	37.3	fear	37.5	-0.20	0.91	0.58
2026-06-18	37.1	fear	32.7	4.40	0.86	0.59	1	1	1	0
2026-06-17	34.7	fear	39.3	-4.60	0.84	0.59	1	1	1	0
2026-06-16	40.9	fear	34	6.90	0.89	0.54	1	1	1	0
2026-06-12	34	fear	29.6	4.40	0.86	0.56	1	1	1	0
2026-06-11	29.7	fear	27.5	2.20	0.97	0.66	1	1	1	0
2026-06-10	33.5	fear	33.4	0.10	0.96	0.62	1	1	1	0
2026-06-09	33.4	fear	40.1	-6.70	0.96	0.52	1	1	1	0
2026-05-25	58.6	greed	58.2	0.40	0.85	0.55	1	1	1	0
2026-05-23	58.6	greed	58.2	0.40	0.85	0.55
2026-05-22	59.7	greed	58.2	1.50	0.83	0.49	1	1	1	0
2026-05-21	58.3	greed	60.9	-2.60	0.75	0.49
2026-05-20	60.3	greed	60.4	-0.10	0.84	0.56	1	1	1	0
2026-05-19	62.7	greed	62.8	-0.10	0.82	0.51	1	1	1	0
2026-05-18	61.8	greed	62.9	-1.10	0.93	0.59	1	1	1	0
2026-05-16	62.9	greed	66.1	-3.20	0.93	0.59	1	1	1	0
2026-05-15	64.5	greed	66.1	-1.60	0.67	0.51	1	1	1	0
2026-05-14	66.1	greed	65.9	0.20	0.73	0.5	1	1	1	0
2026-05-13	66.4	greed	66.6	-0.20	0.84	0.49	1	1	1	0
2026-05-12	66.9	greed	67	-0.10	0.74	0.43	1	1	1	0
2026-05-11	66.9	greed	66.9	0	0.74	0.53	1	1	1	0
2026-05-10	66.9	greed	67.6	-0.70	0.74	0.53	1	1	1	0
2026-05-09	66.9	greed	67.6	-0.70	0.74	0.53	1	1	1	0
2026-05-08	67.1	greed	67.6	-0.50	0.8	0.46	1	1	1	0
2026-05-07	67.6	greed	68.4	-0.80	0.67	0.51	1	1	1	0
2026-05-06	68.4	greed	66.9	1.50	0.84	0.57	1	1	1	0
2026-05-05	66.9	greed	62.9	4.00	0.87	0.54	1	1	1	0
2026-05-04	66.1	greed	66.6	-0.50	0.76	0.46
2026-05-03	66.6	greed	66.6	0	0.76	0.46	1	1	1	0
2026-05-02	66.6	greed	66.6	0	0.76	0.46
2026-05-01	66.7	greed	66.6	0.10
2026-04-30	66.6	greed	63.7	2.90			1	1	1	0
2026-04-29	63.8	greed	63.8	0			1	1	1	0
2026-04-28	67.9	greed	67.3	0.60			1	1	1	0
2026-04-27	67.3	greed	66	1.30			1	1	1	0
2026-04-26	66	greed	66.3	-0.30			1	1	1	0
2026-04-25	66	greed	66.3	-0.30			1	1	1	0
2026-04-24	66	greed	66.3	-0.30			1	1	1	0
2026-04-22	68.1	greed	67.6	0.50
2026-04-21	67.2	greed	69.9	-2.70			1	1	1	0
2026-04-20	69.9	greed	68.1	1.80			1	1	1	0
2026-04-18	68.1	greed	62.2	5.90			1	1	1	0
2026-04-17	68.1	greed	62.2	5.90				1
2026-04-16	61.4	greed	56.5	4.90			1		1
2025-06-20	55	Greed
2025-06-19	53	Neutral
2025-06-18	54	Neutral
2025-06-17	62	Greed
2025-06-16	60	Greed
2025-06-13	61	Greed
2025-06-12	62	Greed					36.67	33.59	29.74	3.08
2025-06-11	64	Greed
2025-06-10	62	Greed
2025-06-09	63	Greed
2025-06-06	65	Greed
2025-06-05							32.66	41.41	25.93	-8.75
2025-05-29							32.89	41.86	25.25	-8.97
2025-05-22							37.7	36.72	25.57	0.98
2025-05-15							35.93	44.41	19.66	-8.47
2025-05-08							29.45	51.53	19.02	-22.09
2025-05-01							20.94	59.29	19.76	-38.35
2025-04-24							21.94	55.56	22.51	-33.62
2025-04-17							25.44	56.86	17.71	-31.42
2025-04-10							28.52	58.94	12.55	-30.42
2025-04-03							21.76	61.92	16.32	-40.16
2025-03-27							27.42	52.15	20.43	-24.73
2025-03-20							21.58	58.12	20.3	-36.54
2025-03-13							19.11	59.24	21.66	-40.13
2025-03-06							19.33	57.11	23.56	-37.78
2025-02-27							19.38	60.62	20	-41.23
2025-02-20							29.19	40.46	30.35	-11.27
2025-02-13							28.42	47.27	24.32	-18.85
2025-02-06							33.33	42.86	23.81	-9.52
2025-01-30							40.96	34.04	25	6.93
2025-01-23							43.43	29.43	27.14	14
2025-01-16							25.43	40.57	34	-15.14
2025-01-09							34.67	37.37	27.96	-2.7
2025-01-02							35.44	34.18	30.38	1.27
2024-12-26							37.8	34.15	28.05	3.66
2024-12-19							40.71	31.43	27.86	9.29
2024-12-12							43.33	31.67	25	11.67
2024-12-05							48.33	30.67	21	17.67
2024-11-28							37.05	38.65	24.3	-1.59
2024-11-21							41.29	33.23	25.48	8.06
2024-11-14							49.84	28.35	21.81	21.5
2024-11-07							41.54	27.57	30.88	13.97
2024-10-31							39.48	30.9	29.61	8.58
2024-10-24							37.7	29.92	32.38	7.79
2024-10-17							45.45	25.38	29.17	20.08
2024-10-10							49.01	20.55	30.43	28.46
2024-10-03							45.45	27.27	27.27	18.18
2024-09-26							49.62	23.68	26.69	25.94
2024-09-19							50.83	26.4	22.77	24.42
2024-09-12							39.8	30.95	29.25	8.84
2024-09-05							45.33	24.91	29.76	20.42
2024-08-29							51.16	26.98	21.86	24.19
2024-08-22							51.61	23.66	24.73	27.96
2024-08-15							42.54	28.89	28.57	13.65
2024-08-08							40.54	37.45	22.01	3.09
2024-08-01							44.88	25.2	29.92	19.69
2024-07-25							43.17	31.73	25.09	11.44
2024-07-18							52.75	23.44	23.81	29.3
2024-07-11							49.18	21.72	29.1	27.46

200 rows displayed

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VIX Term Structure

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