UVXY is trading at $16.52, with a -12.90% change, as U.S. equities rally after midterm results clarified control of Congress and eased election-related uncertainty. - Major U.S. indexes were sharply higher, while the VIX fell below 19 after the election. - Reports noted front VIX futures initially rose overnight, leaving the intraday volatility picture mixed; the risk-on move is consistent with lower demand for volatility exposure.