ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[DoughRay]

Need help. This is the longest (3rd time) I've held a monthly ( this one at 75) long put on UVXY. From what I've read, theta and contango is greatest at end and beginning of the expiration-time curve. The numbers suggest a 85% profit is presently possible and being in the mid expiration zone I feel it's time to take? I'm new to options and reading all. Just playing the pop-long put scenario thanks to Dr. and Ray. Thanks in advance.