"This is going down. Look at a chart. VIX could do to 80 and this will still dive."
Thanks for the warning.
But please explain to us newbies why UVXY would "dive" if the VIX were to soar to 80. Doesn't UVXY have something to do with VIX futures and isn't there some kind of relaionship between spot VIX and its futures?
It might spike a bit here and there... but it will never see 100 again... Been trading this for years now and been though several times of turmoil and UVXY never retraces too much. The most I've seen was back in Jan when it spiked over 100... I managed to get short there and covered in 60s. Now it's back to trading in and out.