With the VIX climbing broadly across the week to the key 20 threshold, the 2x lev' bullish VIX instruments of TVIX and UVXY saw very powerful net weekly gains of 43.0% and 44.7% respectively. Near term outlook offers renewed equity upside into the next FOMC of Dec'16th.
*first, an update on the VIX, which saw a net weekly gain of 40.1%
As for TVIX/UVXY, with powerful net weekly gains of more than 40%, we're only back to the levels of 3/4 weeks ago.
Again, it is a reminder of how statistical decay remains an underlying problem for those who hold long across multiple weeks.. never mind months.
*I have ZERO interest in being long the VIX in the near term, not least as equities will likely rally into the next FOMC of Dec 16th.