David Gille attempts to explain the collapse in the 2X VIX ETN (TVIX -27.6%) even as the VIX ETF (VXX +2.7%) surges. Unlike ETFs, an ETN in certain instances can have little correlation to the index it is tracking, so selling/buying can drive it far from underlying value. The TVIX premium to NAV got far too high, and now is correcting.
David Gille attempts to explain the collapse in the 2X VIX ETN (TVIX -27.6%) even as the VIX ETF...
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