UVXY is trading at $17.48, down 2.16%, as the lower VIX weighed on its short-term volatility exposure.

  • Cboe reported a 1.20% VIX decline to 17.31 in its October 28 data.
  • Broader volatility gauges eased as stocks traded modestly higher and investors positioned for the Federal Reserve’s 2:00 p.m. decision, widely expected to hold rates steady.
  • This is consistent with reduced demand for broad-market protection, though the Fed announcement remained a near-term event risk.