So, I've been doing some small-sized moves on VIX Futures and although they move similarly to VIX itself, I see there are some differences.
For example, VIX was up like 10% yesterday yet the futures didn't break +5%. Now VIX is down less than 1% from yesterday yet futures are down like 5%.
I see that the movements are very similar to each other, meaning if VIX goes UP then so do futures and vice-versa, but given that the prices are never exactly the same and since the movements are not always the same, what am I missing? Does it work similarly to any other commodity where volume and sentiment affect the prices together with VIX itself?
Thank you!
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