VIX was just at 35 post Brexit and TVIX went to $3.50. That's all you need to know. Next spike will be lower for TVIX and eventually a reverse split to start it all over again.
Being a "fear" indicator, TVIX will run when ppl are "afraid". Many are overly confident right now, so a red day on the S&P here or there (especially small red) isn't going to bother anyone. But if we can get a nasty drop and a bear market that lasts for weeks, then you'll see TVIX move up considerably. Decay would not be a significant factor. We haven't seen those conditions recently so right now over $10 seems unimaginable. But I definitely wouldn't rule out a move over $5.....as long as we can avoid a R/S first.
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