The CBOE Volatility Index (VIX) experienced fluctuations, settling at 16.49 after a dip of 1.06 points. Earlier, the VIX reached highs, with SPX options indicating a potential movement of 55 points for the following day. Market analysts noted a 1-day VIX settlement at 17.05, suggesting a 1.1% expected movement in the S&P 500 Index (SPX) on that day. Additionally, there was significant activity observed in both the VIX and fixed-strike SPX options, with market positioning contributing to a higher volatility environment reminiscent of 2017, albeit with a larger realized range.