The CBOE Volatility Index (VIX) has recently closed under 12 for the first time since November 27, 2019, reaching a low of 11.86. This marks a significant decrease from its recent high of 21 in April, indicating a period of low market volatility. The VIX, often referred to as the market's 'fear gauge,' has seen a rapid decline over the past few weeks, with some analysts suggesting that this could be a good time for investors to consider protection strategies. Inverse VIX ETFs have experienced massive inflows over the past year as retail investors capitalize on the declining volatility. Despite the current low levels, historical data suggests that the VIX could see a bounce back to higher levels in the near future.