ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[stingray113]

Is this surprising to you Eric? I'm confused....

If we get thrust into backwardation then obviously there is substantial downside risk for XIV - hence why I recommend laddering gradually into inverse positions (as I've explained before I'm only exposed by 5%).

If we DON'T reach true backwardation and slip back into contango, then here is your profit potential I laid out yesterday.

And Jay Wolberg is one of the few on seeking alpha I would listen to.