you're right! If the vix stays in backwardation for any length of time uvxy could go to 180 split 2 for 1 and go to 180 again. No one knows what this product will do during a 3year bear market. It hasn't been around that long.
Yeah, well we shall see....A lot of people posting like that over the years and a lot of people have been "screwed" by this contango ridden thing in this long standing bull market. We shall see....I should have bought those 30's yesterday though for a short term trade...