Well I found TVIX around this area the first time and believe it was in contango at that time also. The market was up a lot as it is now and for no reason as it is now also. Granted s&p could ramp up some more but I'm using money I had waiting just for this so of it went down I'm okay. I wish I could directly answer your question but can't. In theory I'm betting more against the market than I am on TVIX.
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