The CBOE Volatility Index (VIX) remained stable at 14.10, reflecting a period of relative calm and confidence among investors, despite a 0.38% decline in the S&P 500 Index. This stability suggests that the market anticipates minimal daily movements in the S&P 500 over the next month. The low trading volume, typical of the holiday season, further underscores the subdued market activity. Notably, the most significant trade was the VIX Dec 2024 15.000 put, with a volume of 11,459 contracts, indicating a cautious outlook for the near term. The absence of a spike in the VIX, despite the S&P 500's decline, suggests that investors are not overly concerned about immediate volatility, focusing instead on potential opportunities in undervalued sectors like energy.
The ProShares Short VIX Short Term Futures ETF (SVXY) experienced a slight increase, rising 0.29% to $52.65 as of 16:40 on Wednesday, November 27.