What does the VIX Index measure and why do some equity investors pay attention to the absolute level of the index?

$30-$day expected voluelity in the USS. stock market; $225$ suggests it will be diffout to price IPCr but may be a good time to initiate long positions in the equity inder

$30-$dry expected refum in the US stock market: $<mn>2</mn><mn>5</mn>$ suggests it will be difficult to prioe IPON but may be a good time to initiste lone pouitions in the equity index

may te a good time to initiate shoet potitions in the equity index

$30-$dry expected retum in the US$.$ stock market: $25$ retrests it with be eavy to price POS but may be a good time to initiate short positions in the equiry index