I wish I had a stronger understanding of the process you describe, I have never worked with anything other than standard stock buying. Options and things of that sort are something I would like to get into someday.
The idea of tis stock - seriously, why wouldn't someone just bet everything they want to wager on any given football game instead of going long on this? Your odds are much, much better at making a return.
I got burned on this a few months ago, despite the constant warnings from the 3 who always warn everyone about this - Ray, Trem, electro..... I am wondering, if this tracks VIX, what happens if VIX goes to 0? Can the VIX reverse split so it can continue down as well? I am not even sure that is how it works..
I (like many) took a beating on this stock awhile back and I still enjoy tracking it - today looked like it finally would fly up...I had my finger ready to click "short:" if the VIX hit 20...but no. I had to laugh as it not only came down, but crashed down even further than anyone here thought possible. Seriously, how can this be legal? It seems far too easy to make money shorting it.