The VS TR 2x Long VIX Futures ETF (UVIX) closed down 4.26% at $3.60 on January 14, as subdued volatility and robust economic data continue to weigh on market sentiment. The underlying VVIX index also fell by 2.71% to 107.93, reflecting a calm options market with little demand for protection. The Cboe Volatility Index (VIX) fluctuated between 18.24 and 19.35, indicating mixed sentiment as equity markets struggled to maintain gains. Despite a lower-than-expected Producer Price Index (PPI) at +0.2% m/m, concerns about sticky inflation and a share buyback blackout window ahead of earnings season added to the market's cautious tone.