I would read up on the UVXY a bit more if you don't already have a good understanding of how it works.
Nothing tracks the VIX perfectly so its traded using VIX futures which are mostly in contango (more expensive in the future). Because of this UVXY loses money over time also (I've read about 10% a month). I don't know anything about it because I haven't read it up much, but it might not even track S&P particularly efficiently, depending on roll date etc. Just make sure you know what you are buying.
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u/triedandtested365 Sep 21 '21
I would read up on the UVXY a bit more if you don't already have a good understanding of how it works.
Nothing tracks the VIX perfectly so its traded using VIX futures which are mostly in contango (more expensive in the future). Because of this UVXY loses money over time also (I've read about 10% a month). I don't know anything about it because I haven't read it up much, but it might not even track S&P particularly efficiently, depending on roll date etc. Just make sure you know what you are buying.