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Sorry, this is inaccurate. We were in backwardation on Friday and many on Twitter, including myself, were speaking of the risks of continuing to hold short vol positions. The positioning of the term structure clearly showed which way things wanted to go. Anyone who has holding past Backwardation...

People holding XIV, SVXY, or short UVXY through -10% Backwardation were out of there minds. You would have gotten blown out in both 2011 and 2008 doing that.

The biggest reason I would say to stick with Windows is the driver support and learning curve if you've never used Linux before. I used Ubuntu for about a year in 2014 but got fed up with the system breaking every time I wanted to install a new component or major update because of driver issues...

I'll stay short as long as Contango remains this high and nothing changes in the term structure. With huge moves like yesterday usually the vol drag and commish of the UVXY forces it lower. They have to pay the full spread on every contract they buy or sell.

Doubled my position at .06 to my max size. Dirt cheap right here in my opinion with .5 M1 still over Spot and the market not giving a care about what is going on in the world. We'll see what happens.

I just picked up some of the UVXY Sep 29'17 19 Puts for .09, Mid is already at .12. This thing got destroyed today.

Wow! The VIX, VVIX, VXST, and now VXAPL are all trending down into the close. Highly unexpected for such an important earnings.

This is also supplemented by the fact that the VVIX is also falling, which is somewhat rare for VIX at this level. The lower VIX goes, the higher VVIX should go on average because smaller moves will have a higher % change. If this keeps happening that is a very bullish sign. Plus were sitting on...

VIX is finally sub 10 again. UVXY has lost 3.39% so far today. The Bulls definitely appear to be back in control for now.

Good! When you said worst trade in ET history I got nervous for you. You have to remember Surf was on here at one point ;);)

Be careful man! Don't go on tilt. If you do this can only get worse. All you gotta do is wait for the best set ups and don't chase mediocre stuff. Tomorrow is a new day and all that.

Also wanted to add that I totally agree with this mindset. You guys have taught me a massive amount since I started following this thread. You guys trade a lot of stuff I don't even think about. And even though I'm not a day trader, I think that all knowledge of the financial markets compounds...

@beerntrading and @vanzandt, how long have you guys been trading options?

Thanks for the encouragement man! And of course, after the VIX market closed the UVXY spiked down to 29.20 :rolleyes::rolleyes:

And of course, my first call on the forum was destined to be a flop. If someone had shorted the UVXY at open at 29.31, and held it till the close of 29.74 they would have lost right around 1.5%. If that person had used the SVXY they would have lost about 76 bps. What was interesting today was...

That would make sense if it was down, and if this was a different day. This has only been over the span of a couple hours and they only rebalance daily at 3:15 CST from what I've read.

I have a serious question for you guys that I have been pondering lately. So right now the front and second month VIX futures are flat. They were also flat this morning and the UVXY was around 29.4. Since no transactions have taken place, why is this? The UVXY.IV is trading right at this moment...

God, the two of you are so right... I've been overthinking this for way too long. I should liquidate all my current positions and just go all in SNAP, TSLA, and AMZN. Come back in 10 years to a 40,000% return and go meet Warren Buffett ;)

You do realize though its still valued at 16B and has never made a dime right? How can you cook books when you don't actually make any money? :D

I personally would never go long SNAP. If you would believe it I was short at 22 through long term options and made a quick $100 and took my gains because I was afraid of a short squeeze and just thought it was too damn obvious how bad the company is. That will probably turn into one of my...