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ProShares Ultra VIX Short-Term Futures Message Board

  • speeter4 speeter4 Aug 9, 2012 4:48 PM Flag

    UVXY now 90 CENTS a share Pre Split


    When this pile of monkey dung schitfilth ETF came out, it was $40.77/share pre split ($244 post split). $40.77 to 90 CENTS A SHARE. THAT IS A 98% PERCENT DECLINE since inception.

    And yet you longs continue to buy into this garbage. When UVXY hits $4/share or UNDER, then maybe this crap is worth trying on the long side. But until then, Decay, Dilution, Contango, Fee's, Market Sentiment, Shorts will continue to drive this garbage down.

    I recommended RIGHT HERE ON THIS THREAD days ago when UVXY was at $6.80/share to SHORT THIS CRAP and short it hard. You all thought I was an idiot. Keep laughing suckers. Keep laughing. Laughter is good for the soul cuz Lord knows, you longs are in a lot of pain.

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    • Well aren't you special. You warn everyone ou must have a warm and fuzzy feeling inside.

    • I hear your argument that the most he can gain is another $5 and he is risking losing more if this spikes.

      Let me give you my perspective as an option player:

      Assume I think this will go down next week.

      I buy the Aug option, strike price of $8 for about $2.70 a share (betting it will go down to at least $5.30 for break even).

      If the price ends up on the following points, here is my profit as a percentage of investment:

      $5.30- break even

      $5-.30 cent share gain or 11.1%

      4.8-.50 cent share gain or 18.5%

      4.5- .80 cent share gain or 29.6% return

      Thus, even with a move of $1 in the next week, I make almost 30% on my investment.

      Where else can I make this type of money in such a short time?

    • Ever consider I don't need the money? And the fact that I'm up 97% on my short means MAJOR Capital Gains taxes, which I don't care to pay.

      Yes, you are right, I really don't have any more to gain. It's $5 bucks away from ZERO! $147/share to $5! Can't get much better than that. But since I'm doing just fine financially, I'm in no rush.

      Any...and I mean ANY spikes up will be met instantly with heavy selling and shorting. Happens EVERY TIME!

    • You all are missing the point...he has nothing left to gain in the trade. Nada. Zilch. Zippo. He is applying an investor mindset to a trading vehicle. He is only holding for tax purposes, not for any additional gain. He is willing to risk reducing his gains just to try to hold this for one year. There is more upside potential at this point than downside. Is it "smart" to hold it for the reason he says. That lends more credence to the argument that he is an investor who got lucky. A trader would never hold for that reason when the risk of holding is growing daily.

      JMO and good luck.

      PS: I gave my accountant instructions long ago to handle all my trades as income. Charities and business losses are the tax breaks.

    • Well, wathu....boy is in from $21.50. $15 wouldn't cut it for him.

    • uvxy is like the opposite of "The Big Bang"...for your buck...a reverse big bang....swirling around the bowl to be sucked
      into the quanta like a spaghetti noodle..."or fava beans and a
      nice chianti"

    • You blast the "longs" as though we are a monolithic block of dunderheads too stupid to breathe who have ridden this titanic of an ETF since day one - that is shortsighted and absurd. Many jump in, or wade in slowly, as they perceive the risk/reward tilting in their favor. Most everyone knows the design flaws inherent in this levered ETF.....they still play because they are nimble and expect their market timing ability gives them an edge which will allow them to capitalize on the next spike up in volatility - this pretty much describes my reason for stepping in on the long side as the market complacency has increased; most likely a good percentage of others here share a similar approach, and likely that many of us will step off with profits if we have analyzed the probabilities accurately and employed prudent positional size bets as the odds tilt in our favor.

    • So percentage-wise, how much of a short position did you add to your existing position. Did you double the amount of shares you are shorting? Have you covered those additional shares yet if you did increase your position? Do you benefit if you do nothing but maintain your current position and others short it hard?

      Get a better accountant and close your position. You are playing for penny rewards (under 99 pennies to be exact), but you are risking dollars by waiting and holding. There will not be another RS before November.

      Good luck and good trade, speeter.

      • 1 Reply to watsituyah
      • jondow69 Aug 9, 2012 10:33 PM Flag

        wat, that person speeter, is probably the smartest gentleman on this board, if you were 1/10 as smart as him, you wouldn't be holding UVXY, long term, it's a losers bet. the reason UVXY and TVIX, keep going down, has a lot to do with the massive short interest in these products. the last thing speeter needs is advice regarding how to trade UVXY. i've read his posts going back months, and he's been telling people tho short UVXY when it reversed split. the people who shorted after the RS, cleaned up. wat, you seem like a smart guy, but trying to logically figure out UVXY, is a losers game.

    • jondow69 Aug 9, 2012 5:43 PM Flag

      speetster, a great post, but there's a sucker born every minute and 2 to take em. i think people get addicted to this junk, or maybe there down and hope to make it back, or it could be they enjoy pain and enjoy losing money. i had a friend a while back once went to las vegas, lost $10,000, and he was telling me how much fun he had losing 10 thousand dollars! again, trying to warn people about UVXY , is a waste of time, but thanks for trying! even the watch and learn guy has been humbled! jmo


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