The CBOE Volatility Index (VIX) rose by 4.94% to close at 16.35, indicating expectations of approximately 1% daily movements in the S&P 500 over the next 30 days. Meanwhile, the S&P 500 Index (SPX) increased by 0.4% to finish at 5916.98 on November 19, 2024. This simultaneous rise in both indexes suggests a cautious market sentiment amid easing geopolitical tensions. The VIX trading volume was 1.372 times the 30-day average, with calls comprising 69.93% of today's volume, reflecting traders' anticipation of heightened volatility. The most significant trade was the VIX Nov 2024 15.000 put, with a volume of 87,477 contracts. The VIX opened at 15.44, slightly above the previous close, and fluctuated between a high of 17.93 and a low of 15.37. The initial spike in volatility was driven by geopolitical concerns, which later subsided following Russia's softened rhetoric, leading to a more stable market environment. As investors look forward to Nvidia's earnings, the market remains on edge, balancing between geopolitical developments and corporate performance.