Submitted by Additional-Fold-1347 t3_zzb3d6 in wallstreetbets
slambooy t1_j2algq3 wrote
Reply to comment by Additional-Fold-1347 in UVXY BIG MONEY MOVES? by Additional-Fold-1347
Yeah.. just a heads up to turn $500 into tens of thousands you’d need to 20 times UVXY from here. Mathematically impossible. Contango, VIX is already elevated….. plenty have come to play UVXY long and they keep averaging down and lose it all. It’s a decaying asset meant to go down forever. Better off shorting any and all pops. It’s down 48% YTD and the spy is down 25% or something. That was long winded. Have a great new years!
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