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VelocityShares Daily 2x VIX Sho (TVIX) Message Board

bustin_ur_chops 176 posts  |  Last Activity: Jul 9, 2014 11:13 AM Member since: Mar 17, 2013
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  • Reply to

    Today

    by merchanthouse1 Jul 9, 2014 10:14 AM
    bustin_ur_chops bustin_ur_chops Jul 9, 2014 11:13 AM Flag

    "Markets up only 3 points on S&P and TVIX down .06, yesterday markets were down 13 points S&P TVIX made .10, how is this possible?"

    Please explain why you think that TVIX is correlated to the S&P 500.

    Have you read the prospectus? That's a good start to understand the answer your question...

  • Reply to

    Still no fear

    by loufah2 Jul 8, 2014 11:40 AM
    bustin_ur_chops bustin_ur_chops Jul 9, 2014 4:38 AM Flag

    "I bought some August $27 calls yesterday. With VXX currently at $28.70, the $27 calls are only $2.85. So they expect VXX to go up only another $1.15 in 6 weeks."

    Loufah, IF you are convinced that VXX will hit your b/e of $29.85 by Aug 22 expiry, a far better speculation, imo, would be an Aug22 28.5/29.5 debit bull call spread which is selling (with closing quotes) at a midpoint of .28.

    You limit your max gains to a bit less than a 3:1 payout and you drop your b/e to $28.78.

    Here's a research project for you: Download a year or two of VXX data onto a spreadsheet. Calculate the frequency that VXX closes (1.15/28.7)=4.0% higher in a 6 week time frame.

    Did you place a good bet?

    Bustin

  • bustin_ur_chops by bustin_ur_chops Jul 8, 2014 7:42 AM Flag

    administrative costs:
    fy 2013: $1.34 mil
    since 2007: $16 mil

    r & d:
    fy 2013: $12,344
    since 2007: $656K

    stock promotion 2012: 7.2 million shares

    Administration expense decreased to $1,336,483 for the year ended June 30, 2013 as compared with $11,571,613 for the year ended June 30, 2012. This decrease is primarily attributable to investor relations expenses $10,889,153 incurred during the year ending June 30, 2012. The majority of the investor relations expenses are non-cash with the largest portion related to the Company issuing 7,215,365 shares of common stock to a third party consultant for services. The shares were valued at $1.50 (based on a contemporaneous cash sales price and anticipated offering price) or $10,823,048.

    (edit.: IR expense is inflated as shares were not trading at time of issuance...)


    Research and Development Expenses

    Research and Development was $12,344 for the year ended June 30, 2013 as compared with $5,279 for the year ended June 30, 2012. Research and Development expenditure has been minimal over the past 24 months, including the last 12 months, as the Company raises sufficient capital to undertake its next stage of development for its current programs. The Company and its Directors continue to expend its efforts to continue creating value by completing its patent filings and publishing its scientific discoveries, and is negotiating with third parties to assist with raising the capital needed to complete its planned research and development activities. (edit. YADA YADA YADA)

    QUESTION FOR LONGS: Have you any idea of the capital required to bring a drug to market???

    Bustin

  • bustin_ur_chops by bustin_ur_chops Jul 8, 2014 7:15 AM Flag

    I just followed a spam trail to get here.

    Has anyone long here actually read any SEC filings?

    This company is completely bankrupt: As of March 31, 2014, loans are in default; current (and total) assets are $40 (ones, not thousands) and current liabilities in excess of $1 million.

    Of course there are no revenues and despite whatever quantities of kool-aid one might injest, there never will be any.

    WHY WOULD ANYONE "INVEST" IN THIS "COMPANY"???

    Propanc appears to be nothing but a stock dilution scam: continually issuing convertible debentures and warrants at exercisable at submarket prices to fund excessive administrative costs for a nonexistent business.

    from June 6 press release:

    "In connection with the syndicated capital raise, Propanc issued convertible promissory notes, with an aggregate face value of $200,000.00. The Company also issued additional "back end" promissory notes in the same amount, which, at the Company's option, may or may not ultimately be funded. The promissory notes issued bear an interest rate of 8% per annum and are convertible within a period of 12 months."

    Most likely that "private party" legally or illegally sold short 3 or 4 million shares btwn .20 and .40 in late May, early June, and is now "converting" his $200K IOU at .07 as per previous conversion price but probably even lower.

    Propanc receives $200K in financing which it will burn through in several months; marks buying Proscam see their shares diluted; insiders pocket another $500-800K.

    Your shares are dead in the water until the next pump or round of "financing".

    Bustin

  • Reply to

    Why we don't have options on this?

    by lekinsh01 Jul 5, 2014 12:30 PM
    bustin_ur_chops bustin_ur_chops Jul 7, 2014 9:49 AM Flag

    You can buy/sell options on SVXY which has identical performance as XIV. But if you own shares of SVXY, an ETF, you will receive a K1 for taxable accts.

    Bustin

  • bustin_ur_chops bustin_ur_chops Jul 6, 2014 7:16 PM Flag

    "Besides you are both wrong. There can defiantly be a squeeze in any etf /etn that can be shorted. They are all interrelated and if one is purchased or sold to an extreme the trackers follow suit."

    With all due respect, Albert, either you are misinformed or uneducated. And YOU, amigo, are certainly "wrong".

    The VIX proxies don't care where they have been nor do they care about volume, candlesticks, dojis, or even my ouija board. And they certainly don't care about short interest and days to cover.

    All they care about is their "indicative value" and the APs, "authorized participants", will provide the necessary arbitrage and liquidity to see that this is accomplished. SVXY, VXX, UVXY, XIV trade at a trivial discount/premium to iv. TVIX trades at a more significant chronic premium to iv of which I am at a loss to explain.

    There CAN be a shory squeeze as there was of TVIX in 2012, but ONLY if the sponsor stops supporting its product. BUT there CANNOT be a short squeeze if ETNs and ETFs work as designed!

    Google: "vix proxy curriculum" and read the links on ETF creation and liquidity for a thorough explanation.

    Bustin

  • Reply to

    Check out the VIX futures from today!

    by dickiedribbles Jul 4, 2014 5:52 PM
    bustin_ur_chops bustin_ur_chops Jul 5, 2014 9:50 PM Flag

    fixed...

    Symbol Last Chg
    VIX 10.32 -0.50
    VX N4-CF 11.78 -0.17
    VX Q4-CF 12.77 -0.13
    VX U4-CF 13.69 -0.11
    VX V4-CF 14.46 -0.14

    Bustin

    PS: changes are from close Thurs, not Friday.

  • bustin_ur_chops bustin_ur_chops Jul 5, 2014 4:31 PM Flag

    "They will sell and then we will experience a squeeze, but for now TVIX longs are suffering mightily."

    No, Raybans was correct. There CANNOT be a short squeeze unless Credit Suisse stops supporting tha product as they did temporarily in 2012. It is unlikely to happen again.

    Bustin

  • Reply to

    Bought etn VXZ

    by nugentsteve86 Jul 5, 2014 3:04 AM
    bustin_ur_chops bustin_ur_chops Jul 5, 2014 8:30 AM Flag

    "I bought vxz which is suppose to be a long term play on the vix.It too keeps going down a lot and im tempted to sell to cut further loss.This market is way overbought.Im not what i should do at this point?"

    What should you do?

    First, I would invest countless hours educating myself about how these products work.

    Second, I would express gratitude than I had "invested" in VXZ rather than TVIX or UVXY.

    Bustin

    One really needs to have a thorough understanding of the VIX futures curve to successfully "trade" VXZ from the long side... Even I don't touch it from the short side; better fish to fry!

  • bustin_ur_chops bustin_ur_chops Jul 5, 2014 8:17 AM Flag

    must be an error; if not, these data might trigger a termination event for long vol etns...

    VIX 10.32 -0.50
    VX N4-CF 5.40 -6.38
    VX Q4-CF 5.20 -7.57
    VX U4-CF 5.20 -8.49
    VX V4-CF 5.40 -9.06

    Bustin

  • bustin_ur_chops bustin_ur_chops Jul 1, 2014 10:42 PM Flag

    "Who is the buyer then?"

    Do you think that you are the only "ong" out there??

    Last month I sold shares of UVXY to ongoingtobuyuvxy.

    Last week I sold shares of TVIX to ongoingtobuytvix.

    Today I sold more shares to ongoingtoloseallmymoney.

    Bustin

    PS: You need to change your alias from ongrichar to ongpoorar ಠ╭╮ಠ

  • Reply to

    Is there any chances for UVXY back to USD60?

    by ongrichar Jun 30, 2014 8:40 PM
    bustin_ur_chops bustin_ur_chops Jun 30, 2014 10:11 PM Flag

    "back to USD60?"

    One of my favorite observations is that UVXY (VXX and TVIX) have no memory of where they have been...

    $60??? Fuggetaboutit!!!

    Bustin

  • Reply to

    What should I do with UVXY?

    by ongrichar Jun 30, 2014 5:20 AM
    bustin_ur_chops bustin_ur_chops Jun 30, 2014 6:22 AM Flag

    "I am so trouble now. Hopefully will not end up USD 10."

    Of course it will continue to decay to $10 or below. I should reach $10 between Jan and Mar 2015. Of course it will have a 1:10 split by then and will actually be trading at $100. But then again your 100 shares will br reduced to $10.

    Hard to feel sorry for you. You were strongly advised to exit nearly 2 weeks ago...

    Bustin

  • bustin_ur_chops by bustin_ur_chops Jun 29, 2014 6:04 AM Flag

    PUGE now trading as PUGEE

    PUGES would have been a better choice...

    --Bustin

    * A - Class A
    * B - Class B
    * C - Issuer qualifications exceptions *
    * D - New
    * E - Delinquent in required filings with the SEC
    * F - Foreign
    * G - First convertible bond
    * H - Second convertible bond, same company
    * I - Third convertible bond, same company
    * J - Voting
    * K - Non-Voting
    * L - Miscellaneous situations, such as depositary receipts, stubs, additional warrants, and units
    * M - Fourth preferred, same company
    * N - Third preferred, same company
    * O - Second preferred, same company
    * P - First preferred, same company
    * Q - Bankruptcy Proceedings
    * R - Rights
    * S - Scam
    * T - With warrants or with rights
    * U - Units
    * V - When-issued and when distributed
    * W - Warrants
    * Y- ADR (American Depositary Receipt)
    * Z - Miscellaneous situations such as depositary receipts, stubs, additional warrants, and units.

  • bustin_ur_chops bustin_ur_chops Jun 29, 2014 6:01 AM Flag

    Best way to have a $50 billion TVIX (VXX and UVXY) portfolio in 6 months***

    *** Begin with $100 billion!

  • bustin_ur_chops by bustin_ur_chops Jun 28, 2014 6:54 AM Flag

    PUGE now trading as PUGEE

    PUGES would have been a better choice...

    --Bustin

    * A - Class A
    * B - Class B
    * C - Issuer qualifications exceptions *
    * D - New
    * E - Delinquent in required filings with the SEC
    * F - Foreign
    * G - First convertible bond
    * H - Second convertible bond, same company
    * I - Third convertible bond, same company
    * J - Voting
    * K - Non-Voting
    * L - Miscellaneous situations, such as depositary receipts, stubs, additional warrants, and units
    * M - Fourth preferred, same company
    * N - Third preferred, same company
    * O - Second preferred, same company
    * P - First preferred, same company
    * Q - Bankruptcy Proceedings
    * R - Rights
    * S - Scam
    * T - With warrants or with rights
    * U - Units
    * V - When-issued and when distributed
    * W - Warrants
    * Y- ADR (American Depositary Receipt)
    * Z - Miscellaneous situations such as depositary receipts, stubs, additional warrants, and units.

  • Reply to

    Momentum Picking up in BIGG

    by kylayinfujimoto Jun 25, 2014 4:16 AM
    bustin_ur_chops bustin_ur_chops Jun 25, 2014 6:18 AM Flag

    And BIGG finances scam by repeatedly issuing toxic death spiral debt.

    From recent 10Q:

    "On December 17, 2013, we and Iconic Holdings, LLC ("Iconic") entered into a note purchase agreement, providing the issuance of a 10% convertible promissory note with the principal amount of $52,500. The note is due on December 17, 2014. Iconic is entitled, at its option, at any time after the issuance of this Note, to convert all or any lesser portion of the outstanding principal amount and accrued but unpaid interest into our common stock at a conversion price for each share of common stock equal to the lower of $ 0.238 or 60% of the lowest trading price in the 15 consecutive trading days prior to the date that Iconic requests Conversion"

    Bustin

  • Reply to

    BIGG-Just found this, hope you like it

    by kylayinfujimoto Jun 25, 2014 3:32 AM
    bustin_ur_chops bustin_ur_chops Jun 25, 2014 6:15 AM Flag

    Thanks for the spam!!

    And I just found this death spiral convertible in the 10Q, striking a massive chord (B flat) wiith traders:

    "On December 17, 2013, we and Iconic Holdings, LLC ("Iconic") entered into a note purchase agreement, providing the issuance of a 10% convertible promissory note with the principal amount of $52,500. The note is due on December 17, 2014. Iconic is entitled, at its option, at any time after the issuance of this Note, to convert all or any lesser portion of the outstanding principal amount and accrued but unpaid interest into our common stock at a conversion price for each share of common stock equal to the lower of $ 0.238 or 60% of the lowest trading price in the 15 consecutive trading days prior to the date that Iconic requests Conversion"

    Bustin

  • Reply to

    BIGG-Can this play break past $1?

    by kylayinfujimoto Jun 25, 2014 5:27 AM
    bustin_ur_chops bustin_ur_chops Jun 25, 2014 6:11 AM Flag

    Thanks for the spam!

    The only thing believable in the BIGG 10Q is the death spiral toxic financing:

    "On December 17, 2013, we and Iconic Holdings, LLC ("Iconic") entered into a note purchase agreement, providing the issuance of a 10% convertible promissory note with the principal amount of $52,500. The note is due on December 17, 2014. Iconic is entitled, at its option, at any time after the issuance of this Note, to convert all or any lesser portion of the outstanding principal amount and accrued but unpaid interest into our common stock at a conversion price for each share of common stock equal to the lower of $ 0.238 or 60% of the lowest trading price in the 15 consecutive trading days prior to the date that Iconic requests Conversion"

    OUCH!!!

    Bustin

  • Reply to

    VIX UP TVIX DOWN. IS THIS A SCAM?

    by outsidetoinside Jun 23, 2014 1:04 PM
    bustin_ur_chops bustin_ur_chops Jun 24, 2014 11:58 AM Flag

    "ETFs definitely operate this way but it is less clear how ETNs work because they are not required to own the underlying. So I do not know how they perform the arbitration."

    google: "ETF Liquidity Explained joi"

    Bustin

TVIX
2.87-0.10(-3.37%)Jul 11 4:00 PMEDT

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