If you are long, this is a golden opportunity to get out with smaller losses. Don't do like the TVIX fools that got cut in half in a matter of days.
Intrinsic value means nothing. The only thing that counts is supply and demand. You would do yourself a favor to quit the market before you lose your shirt.
Duh, intrinsic value is the ONLY thing that matters. Demand at these levels is just a way to get an idiot's certificate.
wmgatesis, you are so smart ! how much money are you already losing ?