The CBOE Volatility Index, commonly known as the VIX, experienced significant fluctuations recently, closing at 16.27 on November 6, marking its lowest level since September 26. The index dropped by 20.5%, reflecting a broader trend of reduced market volatility, with one of its largest daily declines in two decades. The VIX's put-to-call ratio surged to 2.3, indicating heightened trader caution, a level not seen in over a decade. This spike in the ratio has only been surpassed during critical market moments in 2020. Additionally, a notable 92,000 puts trade suggested market confidence ahead of the recent election, with traders anticipating reduced uncertainty post-election. As of November 8, the VIX further declined to a 14 handle, with spot prices reaching as low as 15.50, signaling a potential shift in market sentiment and a decrease in implied volatility. Analysts noted that the current VIX levels indicate a significant comfort among traders regarding lower volatility, especially following the Federal Open Market Committee (FOMC) meeting.