The CBOE Volatility Index (VIX) saw a significant decline of 7.57% to close at 17.21, reflecting a decrease in market volatility and a boost in investor confidence. This drop aligns with optimism surrounding potential progress in US-China trade talks and a reduction in Treasury yields, which have alleviated fears of economic overheating. The S&P 500 Index also benefited from this positive sentiment, rising by 0.72% as gains in major tech stocks contributed to the upward momentum. The VIX's trading volume was notably higher than its 30-day average, with a balanced sentiment slightly favoring bullishness, as evidenced by the predominance of call options in today's trading activity.
The VS TR -1x Short VIX Futures ETF (SVIX) experienced a notable increase, closing at $25.68, up 3.01% from the previous close of $24.93.