ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[stingray113]

Good job eric. I'm glad that trade worked out so well for you.

Please understand no one here means to be "on your back" about your chosen strategy for trading, we just want you to be successful in your trading (or at least informed).

I think an XIV entrance here is a safe move, as long as you don't mind holding it long for a while through a few bumps.

Since this is the beginning of a roll cycle we got to "reset" the contango - otherwise today would have pushed us likely into backwardation.

Look for the VIX in low-14s soon, pulling down futures to around $15.2-15.5. That will give you around 3-5% on your XIV trade, so I'd look for an exit around $21.75-$22.

Good luck to you.