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The ProShares leveraged VIX ETF (UVXY) sets a 1-for-10 reverse stock split for September 6....

The ProShares leveraged VIX ETF (UVXY) sets a 1-for-10 reverse stock split for September 6. It's the 2nd reverse split this year for the fund, which aims to double the return of the VIX - allowing it to slide towards zero with better than twice the speed (think compounding effects) of the VXX.
Comments (16)
  • Canary Cash
    , contributor
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    Glory to God!! LOL
    28 Aug 2012, 10:28 AM Reply Like
  • madmax3536
    , contributor
    Comments (46) | Send Message
     
    Cash,

     

    do u see $VIX spiking in 2013?
    28 Aug 2012, 10:51 AM Reply Like
  • Canary Cash
    , contributor
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    Yes. But between now and a spike, any hoped for gains would likely be destroyed by contango and leveraged price swings. UVXY is a day to day jobby.
    28 Aug 2012, 04:34 PM Reply Like
  • thandigloria
    , contributor
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    How long before everyone is buying puts on this thing and riding the VIX contango slope?
    28 Aug 2012, 10:46 AM Reply Like
  • Canary Cash
    , contributor
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    T-Minus 7 days
    28 Aug 2012, 04:33 PM Reply Like
  • idkmybffjill
    , contributor
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    Canary, why not now? And personally, I think OTM selling naked calls is the way to go.
    28 Aug 2012, 04:44 PM Reply Like
  • 4cessna
    , contributor
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    maybe it is because of the split, but I cannot find any options on this ETN.
    7 Sep 2012, 12:02 PM Reply Like
  • idkmybffjill
    , contributor
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    UVXY isn't an ETN, it's an ETF. Also, I believe the options have disappeared temporarily to adjust for the reverse split...
    8 Sep 2012, 10:42 PM Reply Like
  • idkmybffjill
    , contributor
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    It just had a 1:6 reverse split this last March I believe.
    28 Aug 2012, 12:27 PM Reply Like
  • bigspec
    , contributor
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    I wonder what the put/call ratio is on this.
    28 Aug 2012, 01:27 PM Reply Like
  • 4cessna
    , contributor
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    does this(UVXY) have options. my broker does not list them
    7 Sep 2012, 12:04 PM Reply Like
  • liforly
    , contributor
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    TVIX going the same way.
    28 Aug 2012, 01:56 PM Reply Like
  • idkmybffjill
    , contributor
    Comments (1498) | Send Message
     
    Unfortunately, not calls/puts available for TVIX since its an ETN. UVXY might be one of the few long term GUARANTEED profit makers if you are in a short position. Selling naked calls is likely the best way I see. Hell, in the prospectus, it says its value is supposed to go to 0 lol. Then they reverse split it each time it comes down...
    28 Aug 2012, 04:25 PM Reply Like
  • Joe Razorback
    , contributor
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    Funny thing that is the ECB date also, might have a huge spike in Vol that day and get an even better entry
    28 Aug 2012, 05:02 PM Reply Like
  • Perkins Cove
    , contributor
    Comments (624) | Send Message
     
    Remember, it won't go straight down. After the last reverse split (1:6) that took it from 5.30 to 31.80, it then dropped to 12.50, up to 18.50, down to 13.50, up to 21.50, etc, etc. The total % gains for playing only the "ups"... to its present 52 low of 4.87 were...433% (March thru August. Ask me how I know...lol) And thats only playing the "ups". I guess you could about double that if you were good enough to play the turns. I wasn't.

     

    If you are wrong overnight... enough nights, she will ruin you. In both money and soul. To be on the safe side, Canary Cash is right, "UVXY is a day to day jobby".

     

    Don't like "safety"? Want to swing? Has to be short (if you can borrow the shares) to dance the Contango. Ginger Rogers did everything Fred Astaire did, except backwards and in heels......hmm, maybe the VIX..en is Ginger trying to p**s Fred off....LOL

     

    And yes, we will see her back to $5. It's only a matter of time...

     

    Rialto
    28 Aug 2012, 07:02 PM Reply Like
  • 4cessna
    , contributor
    Comments (50) | Send Message
     
    Many of those making comments mention options on this ETN. I have not been able to find any options to trade on this. My broker currently has stopped any short sales of UVXY. Of course, I would not short it, but would love to buy a put on it.
    Were options available before it did the reverse split?
    7 Sep 2012, 12:09 PM Reply Like
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