The CBOE Volatility Index (VIX) rose by 1.13% to close at 13.45, while the S&P 500 Index (SPX) increased by 0.61% to finish at 6086.49 on December 4, 2024. This suggests a market expectation of approximately 0.84% daily movements in the S&P 500 over the next 30 days, indicating relatively low volatility and increased investor confidence. The VIX trading volume was light, with the most significant trade being the VIX Dec 2024 14.000 put, with a volume of 40,152 contracts. The VIX opened at 13.16, slightly above the previous close, and fluctuated between a high of 13.61 and a low of 12.89. The tech sector's rally and Federal Reserve Chair Jerome Powell's positive economic outlook contributed to the SPX's record close, reflecting robust investor sentiment. Despite the VIX's slight increase, the market's calmness suggests a lack of desire to hedge, even after recent volatility events, as highlighted by Variant Perception's analysis.