🔴 Volatility ETF (UVIX) is trading 2.68% down as VIX retreats

UVIX is trading at $33.40, down 2.68%, as VIX fell from its prior close in the available October 16 market snapshot.

• The volatility market remained in contango, with front-month VIX futures above spot, a headwind for long-futures exposure.
• UVIX targets 2x the daily performance of a long VIX futures index, amplifying pressure from weaker futures.
• Thursday’s equity rebound and easing anxiety helped volatility retreat despite hotter inflation and rate-hike concerns.