Volatility, Boom/Crash, and Step indices — what's different

Volatility Indices (Vol 10 through Vol 100) simulate a constant, steady level of up-and-down movement — the number tells you roughly how wild the swings are. Vol 10 moves gently; Vol 100 moves hard and fast.

Boom and Crash indices mostly drift in one steady direction, then suddenly spike the other way at random moments — a Boom index spikes down, a Crash index spikes up. These sudden spikes are the whole point of trading them.

Step Index moves in small, fixed steps up or down each tick — simpler, steadier behavior than the others, often used by traders who want less chaotic price action.

The number in a Volatility Index's name is roughly its annualised volatility level, which is a real statistical measure, not just a marketing label. Vol 75 is genuinely built to move about 75% annualised — useful context if you're used to comparing it to how forex or Gold typically behaves.

Boom and Crash indices are popular specifically because their behaviour is asymmetric and well-defined — long, calm drift punctuated by sudden, sharp, opposite-direction spikes. That predictability of structure, even without predicting exact timing, is what draws a specific style of trader to them.