The CBOE Volatility Index (VIX) has experienced a notable decline, reaching a one-week low of 16.74 on January 15, 2025, down 1.97 points from the previous day. Following this, the index continued to decrease, with subsequent readings showing values of 16.02 and 16.11 on January 16 and 17, respectively. As of January 17, the VIX further dropped to 15.95. Concurrently, the 10-year Treasury yield has also seen a decline, with rates reported at 4.653% and 4.606% during this period. Analysts indicate that the market may have shifted back into a long gamma territory, suggesting a change in volatility dynamics.