Could get a short squeeze any time but it's still trading at a premium. Yesterdays closing indicative value was 7.83 and with VIX plunging it's going to be down another 10-12 percent today so fair value is probably around $7. The play here was shorting that huge premium and waiting for the market to take it out. I feel sorry for the longs that didn't know they were buying a fund with a 50% premium. Should be a lesson to us all to check the details not just the charts.
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