The VS TR -1x Short VIX Futures ETF (SVIX) experienced downward pressure as the Cboe Volatility Index (VIX) showed minimal movement, trading within a tight range of 12.89 to 13.34. The VIX, a key measure of market volatility, remained close to four-month lows, reflecting a relatively stable market environment. Elevated VIX option volumes, particularly in the January 2025 call options, indicate heightened interest in future volatility, but the current low volatility levels have not provided the necessary conditions for the SVIX to gain traction. Additionally, the broader equity markets saw gains, with the Dow Jones, S&P 500, and Nasdaq all rising, further contributing to the subdued volatility environment.
The SVIX ETF closed at $29.65, marking a 0.64% decline for the day, with a slight additional drop of 0.07% after market hours.