The VS TR 2x Long VIX Futures ETF (UVIX) closed down 1.89% to $3.12 on January 6th, as the Cboe Volatility Index (VIX) experienced a slight decrease, reflecting a calm in market volatility despite ongoing macroeconomic uncertainties. The VIX, which dipped to 17.35, has been influenced by a shift in trading behavior towards short-term options on the S&P 500, diverting attention from the one-month-to-expiry options that typically drive the index. This shift, along with the rise of yield-enhancing structured products tied to the S&P 500, has contributed to dampened price fluctuations and reduced costs associated with volatility insurance. Despite geopolitical tensions and interest rate uncertainties, the VIX has remained below its long-term average, indicating controlled market volatility expectations.