The CBOE Volatility Index (VIX) experienced a modest rise of 1.13% to close at 13.45, reflecting a slight uptick in market volatility expectations. Despite this increase, the overall market sentiment remains positive, buoyed by a rally in the tech sector and optimistic economic projections from Federal Reserve Chair Jerome Powell. The S&P 500 Index also saw gains, closing up 0.61% at 6086.49, indicating robust investor confidence. The relatively low trading volume in VIX options, particularly the VIX Dec 2024 14.000 put, suggests a limited appetite for hedging against potential market downturns, even in the face of recent volatility events.
The iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) edged up 0.69% to $42.36 as of 16:40 on Wednesday, December 4.