its never as easy as it appears. At first glance it seems that this should go up when VIX goes down. At least that is what it is billed as. So I would be very careful with the thinking that since VIX never stays elevated for more than a couple weeks at a time, XIV must go up to 13, 14, 15 whatever in the next few weeks. IT IS NEVER THAT EASY!!!! in the stock market
My guess is those that bought over 11 are probably trapped forever with the effects of decay, backward-retardation and "con"tango. Now that is a good work for this ETF - anything with "con" in it. Your only hope is to average down and get out even. You can only made money on this long by day-trading it.