The VS TR 2x Long VIX Futures ETF (UVIX) closed on January 17th up 1% at $30.40, as volatility indicators showed an uptick in market uncertainty. The VVIX, which measures the expected volatility of the VIX, rose by 1.74% to 101.58, reflecting increased demand for VIX options. Despite the Cboe Volatility Index (VIX) trading lower at 15.71, the elevated VIX option volume and a low put/call ratio of 0.31 suggest heightened investor activity in hedging against potential market swings. The narrow trading range of the VIX today, between 15.53 and 16.23, indicates a cautious market sentiment ahead of the long weekend and upcoming inauguration events.