The VIX fell 0.6 points to just under 18 in early Tuesday trading after President Donald Trump said Iran's Monday missile strikes had not clearly broken the Middle East ceasefire.
Trump described the conflict as a "mini war" and a "little detour" at the White House, helping calm investors after the attacks briefly rattled Wall Street.
The index, widely seen as a gauge of market fear, is generally considered to signal relatively low volatility when it stays below 20.
Is the market's calm a sign of resilience or a dangerous miscalculation of the escalating Middle East conflict?
Why is Wall Street hitting record highs while the US and Iran are on the brink of war?