The market regain its traction today. Was busy most of the day with work, so make a final hour trade with $SVXY for a quick $560 profit. This ETF is short the $VIX futures contracts. When you buy this you are betting the volatility will be lower as measured by the $VIX. This ETF is extremely volatile with 3-5% moves in one day.
$SVXY generally goes up when the S&P is up and even when it is flat due to the contango nature of the VIX futures contracts. The ETF will short the 1st and 2nd months VIX future contracts and generally the fund increases in value as the future prices decay to the spot price, which is generally lower in value.