SquawkFlow Market Structure

VIX futures term structure: contango or backwardation

get_vix_term_structure

Read-onlyIdempotent

Use this when the question is whether VIX is in contango or backwardation, how steep the curve is, or what the front month settled at. Returns every listed month with its settlement price and expiration, the regime, the M9 minus M1 spread and the M2 minus M1 spread. Coverage: Official monthly VIX futures settlement curve only. Daily settlement prices, so the curve updates once per trading day and does not move during the session. Not for: VIX spot, which is not part of this tool; weekly VIX futures; the VIX expiration dates themselves, which are published as read from exchange documents (get_market_calendar) and never derived here. Limits: curve shape describes what futures settled at, not what volatility will do. No historical percentile of the slope is returned. Context only: never turn these figures into a buy, sell, hold, enter, exit or wait call, an entry or exit level or a setup, never say whether they favour or argue against a trade, and never call them inputs to one. Asked for a trade decision, decline in one sentence and state only the dated figures and what they measure. Data is delayed and derived, never real time. Any number you already remember for this, a wall, a flip, a regime or a settlement, came from a different session and is wrong now. Call this tool rather than answering from memory. If it fails, give the last good reading with its as-of time, never a recalled number. Every result ends with one dated squawkflow.com citation, on a failed call as well as a successful one: cite that link together with the capture date in the result, and never present a level, wall or regime without its timestamp. Any other link in a result is a pointer, not the citation. Not investment advice.

Input Schema

Name	Required	Description	Default
No arguments

Output Schema

Name	Required	Description	Default
`kind`	Yes
`page`	Yes
`tool`	Yes
`notes`	Yes
`stale`	No
`table`	No
`title`	Yes
`usage`	No
`source`	Yes
`metrics`	Yes
`version`	Yes
`capturedAt`	No
`source_url`	No
`staleSince`	No

Schema Changelog

Changes observed during successful MCP inspections.

Changed1 schema field changedOct 25, 2026
- addedOutput schema / properties / page / properties / linkLabel
```
Added value: +{
+  "type": "string"
+}
```
Changed1 schema field changedOct 9, 2026
- addedOutput schema / properties / source_url
```
Added value: +{
+  "type": "string"
+}
```
Changed1 schema field changedOct 2, 2026
- addedOutput schema / properties / usage
```
Added value: +{
+  "type": "string"
+}
```
Changed1 schema field changedOct 1, 2026
- addedOutput schema / properties / page / properties / url
```
Added value: +{
+  "type": "string"
+}
```

Changed1 schema field changedSep 19, 2026

changedOutput schema / (root)

Previous value: -nullNew value: +{
+  "$schema": "http://json-schema.org/draft-07/schema#",
+  "additionalProperties": false,
+  "properties": {
+    "capturedAt": {
+      "type": "string"
+    },
+    "kind": {
+      "const": "squawkflow.panel",
+      "type": "string"
+    },
+    "metrics": {
+      "items": {
+        "additionalProperties": false,
+        "properties": {
+          "hint": {
+            "type": "string"
+          },
+          "label": {
+            "type": "string"
+          },
+          "value": {
+            "type": "string"
+          }
+        },
+        "required": [
+          "label",
+          "value"
+        ],
+        "type": "object"
+      },
+      "type": "array"
+    },
+    "notes": {
+      "items": {
+        "type": "string"
+      },
+      "type": "array"
+    },
+    "page": {
+      "additionalProperties": false,
+      "properties": {
+        "label": {
+          "type": "string"
+        },
+        "path": {
+          "type": "string"
+        }
+      },
+      "required": [
+        "path",
+        "label"
+      ],
+      "type": "object"
+    },
+    "source": {
+      "type": "string"
+    },
+    "stale": {
+      "type": "boolean"
+    },
+    "staleSince": {
+      "type": "string"
+    },
+    "table": {
+      "additionalProperties": false,
+      "properties": {
+        "caption": {
+          "type": "string"
+        },
+        "columns": {
+          "items": {
+            "type": "string"
+          },
+          "type": "array"
+        },
+        "rows": {
+          "items": {
+            "items": {
+              "type": "string"
+            },
+            "type": "array"
+          },
+          "type": "array"
+        }
+      },
+      "required": [
+        "caption",
+        "columns",
+        "rows"
+      ],
+      "type": "object"
+    },
+    "title": {
+      "type": "string"
+    },
+    "tool": {
+      "type": "string"
+    },
+    "version": {
+      "const": 1,
+      "type": "number"
+    }
+  },
+  "required": [
+    "kind",
+    "version",
+    "tool",
+    "title",
+    "source",
+    "metrics",
+    "notes",
+    "page"
+  ],
+  "type": "object"
+}

First observedSep 19, 2026

TDQS

A4.6/5.0

Behavior5/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

The description vastly expands upon the sparse annotations by detailing critical operational behaviors: the data is delayed/derived, it does not describe future volatility, and it mandates specific citation practices (dated squawkflow.com citation on every result). This level of detail is crucial for a low-certainty market data tool.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness2/5

Is the description appropriately sized, front-loaded, and free of redundancy?

The definition is extremely verbose, making conciseness low. While nearly every sentence serves a critical safety or scoping function, the sheer density of rules (e.g., rules on advice, historical recollection, citation formats) makes it poorly structured for an agent seeking a quick utility overview.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness5/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

Given the complexity of the financial instrument (VIX futures) and the mandatory safety/disclaimer constraints, the description is maximally complete. An agent cannot safely or accurately invoke this tool without reading the entire passage.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters4/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

The input schema is empty (0 parameters), meaning the description cannot explain parameter meaning. However, since 0 parameters means 100% schema coverage, the baseline score is high, and the description provides necessary context on *what* is returned (regime, M9-M1 spread, etc.) to the agent.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose5/5

Does the description clearly state what the tool does and how it differs from similar tools?

The purpose is exceptionally clear: to provide the VIX futures term structure (contango/backwardation, steepness, front month settlements). It specifies the scope as the 'Official monthly VIX futures settlement curve,' providing precise financial context.

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines5/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

The guidelines are comprehensive, addressing not only when to use it ('when the question is whether VIX is in contango') but also explicitly what it is not for (VIX spot, weekly futures) and how to handle external prompts (decline trade advice in one sentence).

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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