A troubling indicator is the WINDSTREAM CORP SR NT 6.37500% 08/01/2023 debentures are now trading at 0.76__they traded at 0.90 3/11/15
So go and pay 'DocReits' a subscription fee to visit his website and possibly pay a download fee for his 100th or so updated (tweaked to curve fit) version__ of his dividend capture strategy.
Then u can be an additional 'Lemming' to bring 'open interest' to thinly traded option(s)__whence he front trades and back trades against all the Lemming(s).
How does one 'short' a divergence? You spread a divergence.
If I understand your logic__the correct statement would be to short MReits because of the divergence??
Cmon now__is anyone really saying that their loss is not relevant__or that the historical references are not meaningful? Can u actually say that__that flag has not found a heartbeat with 'racist(s)'.
Would u feel as comfortable if the #$%$ Swatiska' was openly displayed/pasted on the walls outside of private membership clubs (such as, Turner(s)) that were originally founded by German immigrants to US?
Simply because any one with real financial knowledge, skills and capital will use the actual futures market__not some amateur gimmick, such as, TBT whence only their traders know what the actual day to day derivative composition is!
If you do not like TBT as a speculation vehicle__what r u doing visiting this site??
It is not that TBT is engineered to go to zero. The ETF uses derivatives such as forward swaps and futures contracts. Inherit to those derivatives is time decay which will erode its value if the intrinsic value does not gain relative to time. Just like a put option on TLT (your suggestion) will time erode.