What are VIX Futures? These are tradable futures contracts on the VIX Index (CBOE volatility index). They are priced by calculating forward vol for 1-month expiries into the future. The prices typically trade at a premium above VIX spot due to the contango shape of the SPX volatility term structure. Related articles What is Volatility? What is VIX Ref? What is Volatility Skew? How do I add symbols to my watchlist? What is Variance?