TVIX, UVXY - the run of horror concludes

With equities seeing a fair amount of chop, market volatility began to pick up, and that saw the 2x lev' bullish VIX instruments of TVIX and UVXY manage net weekly gains of 5.3% and 5.5% respectively. Broadly though, the market looks comfortable into mid/late September, and the decay looks set to resume.


TVIX, daily

UVXY, daily

Summary

First, an update on the VIX, which saw a net weekly gain of 20.4%.

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As for TVIX and UVXY....

So.. a moderate net weekly gain, after 8 straight weeks of horror.

A sporadic weekly gain is to be expected.

As ever... mid/long term holds simply never end well, due to the statistical decay factor.
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yours truly has zero interest in being long the VIX, as equities still look set for the sp'2200s into September, and that will result in the VIX 11/10s... perhaps even single digit VIX - something not seen since Feb'2007.