The November Vix contract is up $0.1 to $14.45 (0.7%), The Dec contract is up $0.12 for $15.42 (0.8%). Tvix is up 1.59%. Looks like it is doing exactly what it says it is supposed to do.
It works exactly as described in the prospectus. You are "spose" to read the prospectus.
It's a tracking ETN that's all, nothing mysterious about it's movements. Do you really think this tiny little ETN affects put activity in the S&P 500, or could it possibly be the other way around. My broker still shows 1.7 million shares available to short.
It isn't coming through very well since I'm copying drop down lists. This is what shows up when I go to "trade stocks" type in TVIX and select "sell short". You probably still don't believe me, but I don't really care.
Symbol: Populates the Quote Information frame. Find Symbol
Action: Press Alt plus down arrow to open dropdown. Select Buy Buy to Cover Sell Sell Short Sell all Shares Margin Calculator Prospectus
Hard to Borrow Available to Short: 1,840,598 Est. Annual Interest Rate: 3.000%
You aren't a very good one then. My Broker has 1.84 million shares available right now for selling short.
I will copy and paste my oldest TVIX short in my account, right out of my history. It costs me 3% annually right now to hold this short.
05/13/2014 YOU SOLD SHORT SALE
TVIX CREDIT SUISSE AG NASSAU BRH EXCHANGE TR
Short Shares: -500.000 Price: $5.17 Amount: $2,576.99
Settlement Date: 05/16/2014
You can't have a short squeeze in a tracking fund. Also there are 1.8 million shares available to short just at my broker.
Good call man. Out of curiosity, when do you reload your short to a goal % of your portfolio. I'm thinking I need to do it whenever the VIX has increased by 60% trough to Peak. I'm also thinking I need to have a minimum threshold, in order to keep it large enough to matter in times of prolonged low volatility. How about you?
Yes, you can short this. I have been short since May (man do I wish I was short for the 2 years prior). I wont cover until it is delisted.
I was away from my computer most of the afternoon, and I thought that this might actually be an up day for TVIX. LOL
Even in that situation, Credit Suisse is wiped out and this goes to zero.
That pretty much sums it up. Who talked you into this though, that beachbum guy?
You forgot to say "MARK MY WORDS". Otherwise we might think you are just another voice out there without real Conviction. LOL
Short TVIX, and own Call calendars on SVXY. Very small part of my portfolio however, but the only exciting part
You could have made that same case for buying this stock when it first started trading. How do you think you would have fared?
In short. TVIX owns these 2 futures contracts. Contango eats about 0.5% per day. The cash price and the futures price will eventually come closer together. If Vix stays where it is, TVIX will lose 2 x the movement of the futures contracts down. If VIX goes up, sure you can make some money. but your timing has to be perfect. Plus people who do luck out and time it perfect are a lot like farmers, they never sell anywhere near the top, because the window to make money is very short.
November contract is at $14.08, The December Contract is at $15.1. Cash price is $12.51. Just how much money are you trying to lose? My guess is you do not know how the futures contracts affect TVIX.