UVXY why is it down

[JSOP]

1) The market is "down" but not very much. It opened near it's low and rallied somewhat.
2) That can be indicative of short-covering and aggressive put-selling which can pressure VIX indices even when the underlying is trading lower.
3) "It" can go lower than you expect it to. :eek:
4) The correlation, at best, is "only" ~-80% according to the CBOE.

Shouldn't put-selling be pushing the underlying up?

 

[S2007S]

any rallies like today should be used to open/ add to short positions

Main Trading System and Auxiliary system are showing us in the beginning stages of a Bear Market

ultimate low is maybe SPX 1700 and that will take a year to play out

blackguard

Been adding short positions most of this week....all small positions......the vix is back below lows set just before the drop in late january....so many are once getting too comfortable!!!!