Replies to post #4167 on ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[T-R1]

You know there are people who did exactly that.
Good for them

[DrContango]

"This WILL see 60 again. After a 10 for 1 reverse split.

And your answer to, when will shorts cover? Why would you cover? It will reverse split again, and again, and again. Only reason to cover is to cash in a butt load of money.

Stop buying this garbage, if you short 1000 shares of this when the ETF first came out, you would have over 24 million bucks, minus uncle sams portion. This is a long term etf to short. PERIOD "

Biggie:

You are so right and so, so, so, so wrong...


I agree, most likely UVXY will see 60 again late spring 2014, after a 1:10 reverse split!

BUT

If you had shorted $24.1 million dollars worth of UVXY when it began trading on Oct 4, 2011, you would be up ~$24 million dollars.

Had you shorted 1000 shares at UVXY's opening at $40.53, you'd be up ~$40000 -- but a greater amt only if you kept adding to your position.


Doc