*the closing hour saw equities spike into the close, and that sure cooled the VIX, resulting in TVIX/UVXY losing around half of the gains from 3pm.
|TVIX loses half the gains in the closing hour|
Suffice to add, the third net daily gain for the VIX instruments, and considering the broader equity outlook, it would seem the VIX will indeed continue to push higher across the next few days.
VIX 30 is a viable target, and that would likely equate to a further 35/45% upside in TVIX/UVXY.
As ever though... such instruments are for very short term holds only.
Even if the broader market cools all the way to the sp'1600/1500s this late spring/summer, higher volatility in itself will only increase the problem of 'statistical decay'.
*I have no position in the VIX, but with the Dec' equity close, I will consider trading VIX again in the weeks ahead.