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1.What is volatility? What does VIX index (Cboe Volatility Index) measure? 2.How to construct VIX index? 3.How VIX index was constructed previously (before September 2003)?

1.What is volatility? What does VIX index (Cboe Volatility Index) measure?

2.How to construct VIX index?

3.How VIX index was constructed previously (before September 2003)?

4.How do VIX futures contracts work?

5.How do VIX options work?

6.How to use VIX futures or VIX options to bet against VIX index (bet that VIX index will go down)?

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