Maybe, but not today. I would not be surprised XIV goes positive today. I went long this morning at 21.76.
Next week is the FOMC meeting and that could get interesting. I expect volatility to continue throughout the month.
I think it could set up like this.... between today and weeks end... the price bottoms in the high 19 area.... only to have the market rally on some information to come from fomc next week. what do you think? a typical market trick in the making?