The CBOE Volatility Index (VIX) decreased by 4.23% to close at 13.58, indicating expectations of less than 1% daily S&P 500 movement over the next 30 days. Meanwhile, the S&P 500 Index (SPX) rose by 0.82% to finish at 6084.19 on December 11, 2024. This decline in the VIX, coupled with the SPX's rise, suggests increased market confidence and reduced volatility. The VIX opened at 14.42, slightly below the previous close, and fluctuated between a high of 14.43 and a low of 13.52 throughout the day. Today's most significant trade was the VIX Dec 2024 14.000 put, with a volume of 25,899 contracts, reflecting a focus on downside protection. Despite the lack of specific volume metrics, the overall sentiment appears to be cautiously optimistic, with investors hedging against potential risks amid uncertainty surrounding the Federal Reserve's interest-rate decisions. The low cost of S&P 500 put options further supports this trend, as traders seek to mitigate downside risks in a stabilizing market environment.