ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[stingray113]

The debt ceiling has already been reached (last Friday). May be an issue, may not. There wasn't a lot of volatility even after a partial shutdown, and this time around Boehner is calling for a clean continuing resolution.

That being said, I agree you should consider taking profits. The massive downside is already reached and we're basically back to contango decay from here. We could still see another 10% drop or so, but with IV being propped up and the high premium (theta) left in a long put you would be wise to consider booking profits.