VIX Drops 9%, Trading at $14.85 After Recent Spike

The Volatility Index (VIX) experienced a significant decline, dropping 5.2% after a recent spike. The VIX, which measures market volatility, fell by 9%, marking its most overbought level in three years. As of the latest update, the VIX is trading below 15, currently at $14.85. Market participants are observing this trend closely, with some suggesting it could hold near the 14.8-14.9 range. This recent movement has led traders to adjust their positions, with some selling premium and unloading puts.