![Options Oracle: 07/03/14 too-070314](https://themarketguys.com/wp-content/uploads/2014/07/too-070314-120x100.png)
The Volatility Index is an oscillating index that measures the volatility of the S&P 500 Index. As you can see from the chart, the price is right at the 20-year support level and there is a wide divergence between the 200-day moving average and the price of the VIX.