The CBOE Volatility Index (VIX) saw a decrease of 2.5% to close at 18.71, reflecting a slight reduction in market volatility as the S&P 500 Index rose by 0.11%. This decline in the VIX suggests a cautious optimism among investors, who are closely watching for the upcoming consumer price index (CPI) data to gain insights into inflation trends. The S&P 500's recovery from morning losses and its position above the 100-day moving average indicate a stable market sentiment, despite mixed signals from recent inflation data. The most significant trade of the day was the VIX Jan 2025 17.000 put, with a volume of 32,406 contracts, highlighting investor interest in hedging against potential market shifts.
The iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) experienced a decline, closing at $47.42, down 2.27% from the previous close of $48.52.