The VS TR 2x Long VIX Futures ETF (UVIX) closed at $30.10 on January 16, experiencing a slight decline of 0.56% despite a 1.12% increase in the VVIX, which tracks the volatility of volatility. The underlying VVIX rose to 98.89, reflecting heightened market uncertainty as traders digested mixed Q4 earnings reports and economic data. The Cboe Volatility Index (VIX) fluctuated within a range of 15.64 to 16.42, indicating a volatile trading session. VIX option volume was notably high, with a put/call ratio of 0.39, suggesting a cautious market sentiment.