Wall Street is exuding strong confidence as the S&P 500 has surged by 35% from April's lows to reach new record levels. Nvidia Corp. (NASDAQ: NVDA) has also seen its value double during this time. Traders are displaying notable optimism by not hedging for a potential pullback; instead, they are selling volatility and reinforcing their belief in a sustained upward trend in the market. VIX Shorts have hit multi-year highs, with speculators holding the largest net short position on VIX futures since 2022. The most recent data from the Commitment of Traders (COT) report reveals that non-commercial traders had net short positions of -92,787 VIX futures contracts as of Aug. 19. This marks the most aggressive anti-volatility stance in nearly three years. Additionally, short VIX contracts have surged to 198,380 contracts, a level not witnessed since February 2021 - a substantial increase from the 59,248 contracts reported just four months ago in May, the lowest since early 2012. For more on this story, visit Benzinga.com.