Updated

Market commentary highlighted an unusual divergence between elevated day-to-day stock price swings and a relatively subdued VIX, Wall Street's traditional 'fear gauge.' Analysts noted that despite choppy trading in individual names, options markets are not pricing in the level of anxiety that price action alone might suggest. The disconnect has prompted debate among strategists about whether the VIX is failing to capture underlying risk or whether volatility is being driven by idiosyncratic, stock-specific factors rather than broad market fear.