TVIX, daily
UVXY, daily
Summary
As noted, it was expected both TVIX and UVXY would see a reverse split in the near term. So far, UVXY was split 3 weeks ago - back to $40. Today's price of $29.75, again shows what happens in a mere 3 weeks to these instruments.
No doubt TVIX will also get reverse split soon, probably a 1 for 20, something of that ratio.
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With the VIX still in the low 14s, both TVIX/UVXY look tempting to many bears , after all, volatility is cheap. Yes, its cheap, but the daily decay will ruin EVERY trade, if held more than a few days.
Eventually, both TVIX/UVXY will explode higher -perhaps as much as 500-1000%, but that could be weeks away..if not even many months.
In the meantime, until the VIX begins a multi-week ramp higher, these leveraged instruments will continue to rot away..all the way to zero.
