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ProShares Ultra VIX Short-Term Futures Message Board

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  • jus_dafaxs jus_dafaxs Aug 7, 2012 7:47 PM Flag

    You Longs Really Are Retarded


    That's true Watz, if he's been in since Nov-11, his gains really are from $140s level. You still trying to pop those balloons nephew? When are you going to join me on a fishing trip and shoot fish in a barrel? Lots more fun and looks like we're going to get another entry after a short run up in this bad-boy.

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    • That would not be correct, jus.

      Nov 2011: short 1,000 at $44.00.
      March 2012: unrealized gain of $38,000.
      Reverse split at $6.xx. Unrealized gain of $38,000.
      After RS: unrealized gain $38,000. Shares held short now are 166 (1000/6).
      Since RS: additional realized gain is $5,146.
      Total unrealized gain: $43,146.00.

      That is a big difference compared to $147 to $5 which would have an unrealized gain of $142,000.

      Of course, all those numbers are "unrealized" gains as I've noted because he has not closed it, yet.

      But do you see how the math actually works for a reverse split, now? I stand by my comment that he may not have held it that long. Or if he has, he hasn't looked at his account since before the RS, otherwise he would have noticed the reduced number of shares and greatly reduced gains. Remember, since the RS, he has actually only gained a little over $5.00, not $31.00 as he would lead one to believe.

      Good luck, jus. I'm just setting the record straight for speet.

      • 1 Reply to watsituyah
      • Nobody wanted to correct me. I was actually basing those numbers on a short position initiated at inception of UVXY. For speeter's gains, it would actually be $147/6 ($24.50) to $5.90/6 ($0.98). So the total unrealized gain of a short positon of 1,000 shares for that would be $23,520, not $43,156. Still a very nice gain, but an even further cry from $142,000. And speter, I might have to agree with your friends on the whole tax issue.

        Nice trade, but do yourself a favor and close it out.

        Good luck to all, long and short.

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