VelocityShares Daily 2x VIX ST ETN (TVIX)

[Mokyo Toe]

You got it. Even better, in theory, is to short both simultaneously, and you will still come out ahead. However, I would do neither; too many other ways to make money (or have a fair shot at making money)

Most investors don't understand how decay works on a leveraged ETN. They think it must be a few pennies at most. However, it is very substantial, and it eats away very rapidly. If the VIX remains stable for 3 months, everyone holding this that long will be deep underwater.

I saw the same thing happen with UWTI, a 3x ETN people bought betting on a rebound in oil prices. Oil prices moved sideways and the ETN just plummeted, ultimately doing a reverse split and then delisting (leaving holders stranded; they have to sell it on the grey market now)

TVIX is only 2x, but it is still dangerous to hold more than a day or two tops. Holding long will lose money, guaranteed.