The CBOE Volatility Index (VIX) edged up by 0.27% to close at 15.10, while the S&P 500 Index (SPX) rose by 0.61% to finish at 6086.37 on January 22, 2025. This suggests a market expectation of approximately 0.94% daily movements in the S&P 500 over the next 30 days, indicating a relatively stable market environment with moderate volatility. The VIX trading volume data was unavailable, but the most significant trade was the VIX Feb 2025 40.000 call, with a volume of 87,852 contracts, hinting at some traders positioning for potential future volatility spikes. The VIX opened at 14.89, slightly below the previous close, and fluctuated between a high of 15.29 and a low of 14.59. The SPX's record high was driven by strong performances from Nvidia and Oracle, buoyed by AI developments, while a shift from bonds to equities was noted as 10-year Treasury yields rose. Despite geopolitical uncertainties, the market's resilience reflects investor confidence in AI-related growth prospects.