With equities severely net lower, the VIX built gains across the week. The 2x lev' bullish VIX instruments of TVIX and UVXY saw net weekly gains of 50.2% and 51.0% respectively. Near term outlook offers threat of a brief, but severe Monday equity drop... and that might equate to a further 40/60% higher in TVIX/UVXY.
*first, an update on the VIX, which saw a net weekly gain of 48.3%.
As for TVIX and UVXY, despite opening lower on Friday... with the VIX rebounding powerfully higher in the late afternoon, it was a very strong weekly close.
*I remain holding TVIX-long across the weekend.
I am seeking an exit in the 11/12s next Monday morning, and that would more than suffice for a trade that I only took late Thursday.
It is my intention to trade TVIX (long side only) across the weeks/months ahead.. until the sp'1600s.