🔴 Volatility ETF (UVIX) is trading 2.99% down as October VIX futures slip

UVIX is trading at $34.93, down 2.99%, as its leveraged VIX-futures exposure faces pressure amid contango.

• The October VIX future slipped about 0.41, and the futures curve remains in contango.
• The S&P 500 and Nasdaq were higher, reducing demand for volatility protection.
• The 10:00 a.m. ISM Services PMI was a scheduled catalyst, but available results do not establish it as the cause of UVIX’s decline.