 This course is on the VIX index which is one of the most watched indexes in the market. The VIX index is also called as the FEAR index and we'll find out why it's called the FEAR index. And most importantly, we'll study the action of the VIX and the SPX. The SPX of course is the S&P 500 and we'll look at a 20-year perspective of the VIX and the SPX. Then we'll jump into the platform and understand what a certain level of VIX means for option prices. Then we'll also look at its relationship to the VIX futures. So even though you have options on the VIX, it's not a particularly good tradable instrument because of its relationship with the futures and then we'll also take a look at how a certain value of the VIX can impact our trading decisions. And this is probably the most important part. So there's two very important parts here. You need to understand how the VIX affects option prices. When you have a low VIX environment, what happens to option prices? And when you have a very high VIX environment, what happens to option prices? And of course between the low and the high, we'll look at some of the intermediate values also. And so you'll get a clear picture of what a certain value of the VIX index means for everyday people. And if we wanted to trade based on a certain value of VIX, we know what kinds of trades that we can put on. This is a document issued by the CBOE about volatility indexes and it describes the VIX in a few different terms. First of all, we can see that the VIX is based on the S&P 500 index options and is considered by many to be the world's premier barometer of investor sentiment and market volatility.