speeter: Actually, as I re-read your post you do come right out and say "$147 to $5.00." That leads me to believe that maybe you haven't actually been holding short since November. If you had been, you would not have expressed it that way. Unless of course you had said you did that with 1/6 the position you originally had. So, it is either $147 to $5.00 with a now 1/6 position or it is $45 to under $1.00 with your full position. Still a great trade, but not even close to the gain a TVIX LONG holder had not once, but twice, and not split adjusted or anything. Please, get the numbers right or fess up as to when you actually opened your position.
If you hold through another reverse split are you going to expect people to believe you held it from $600+ to under $5.00? The fact is you would still be just a little over a $44.00 gain at that point.
Holding at this point gets you nothing more. How can you stand gains like that? Make a winner a winner and take your gains off the table.