ProShares Short VIX Short Term Futures ETF (SVXY)

[Marketwise]

I don't trade them but an options premium is what is charged to the trader over and above the cost of the contracts - which is why some traders choose to go short the opposite side of the trade rather than pay the premium. Problem there is your already substantial risk goes up by leaps and bounds. So IMO - better to eat the premium and lower your already substantial risk when trading options. I.E. always go long the option - and NEVER short the opposite side - IMO - You can get killed doing so....