TVIX, UVXY - volatility broadly subdued

As equities continue to regularly break historic highs, the VIX remains broadly subdued. The 2x lev' bullish instruments of TVIX and UVXY saw net weekly declines of -3.0% and -3.1% respectively. Near term outlook offers transitory upside of around 10%... if VIX 14/15s.


TVIX, daily

UVXY, daily

Summary

First, an update on the VIX, which saw a net weekly gain of 3.8%.

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As for TVIX/UVXY, there is little to add.

Short term... there is threat of relatively moderate upside. Mid term... there is the perpetual decay problem.

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*yours truly has ZERO interest in being long the VIX in the short/mid term, as the broader equity market is unquestionably super strong.