Seeing buying interest picking up in the CBOE Volatility Index (.VIX) June 25 calls, with ten orders averaging 430 contracts coming through at 95 cents a contract between 13:11 and 13:15. Trading is cautious ahead of the FOMC announcement due out at 14:15. 80 percent odds of a 25 basis point cut and 20 percent for no change in policy. Market pricing in only a 25 percent chance of a June cut. VIX sits unchanged at 20.24.