The CBOE Nasdaq Volatility Index (VXN) is a measure of market expectations of 30-day volatility for the Nasdaq-100 index, as implied by the price of options on this index. The VXN index is a widely watched gauge of market sentiment and volatility for the Nasdaq-100, which includes the top 100 U.S. and international nonfinancial securities by market capitalization listed on the Nasdaq. The VXN is quoted in percentage terms, just like its better-known counterpart the CBOE Volatility Index (VIX), which measures 30-day implied volatility for the S&P 500. The Chicago Board Options Exchange (CBOE) launched the VXN on January 23, 2001.
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