ProfitHarvest

[RIP TVIX] Credit Suisse Gives 9 Day Market Shutdown Notice! :(

NASDAQ:TVIX   None
Fckin unbelievable, this shit should be illegal.

9 days notice... what in the actual fck!

Here's the news for those unaware: https://www.prnewswire.com/news-releases...

I've poured countless hours into triangulating my play here over the past month and they just burn it all to the ground by bailing right when they know it's gonna get super juiced. What a consistency and reliability Credit Suisse, my god.

I'm scrambling to figure out what this all means but as a knee jerk reaction here's where I'm at...

1. It should continue to perform as normal, if market goes down, price goes up.

The problem is that we now have a 9 day deadline instead of being able to be patient and wait till we get our spike. You apparently "may" be able to trade OTC after the delisting but they have the right to totaly fck you if they want and are making nothing certain here. I will not be participating in that mess.

2. The Fed also noted it'll prop the market through the 13th which I have to assume played into Credit Suisse's July 2nd (Nasdaq) and July 11th (NYSE) delistings.

3. Invesco's UVXY is my next best bet here.

4. I liquidated 20% of my TVIX shares today and put into UVXY . It's not a fckin Panic FOMO play anymore, just a pure risk management play, timeline way too fckin short here and I can't keep 1/3rd of my portfolio exposed that much with this new reality.

5. I'd be happy to break even at this point but do hope to hold out and liquidate the rest of the shares at a small profit on some spike this week. Otherwise I'll just gradually exit and immediately rebuy UVXY so my my net short position is essentially unchanged. Just increasingly less TVIX exposure.

6. I will not be holding much if any through this weekend.

7. Everything I liquidate goes directly to UVXY for now. I haven't even pumped an analysis on it yet but it was my best performer after TVIX and actually got in the money more quickly than TVIX and stayed in the money better (I bought at same time). Little less upside potential but still really solid.

8. All bets are off... every man for himself... good luck all!

I'm tagging all my TVIX ideas as a memorial and would like to leave you with my OG idea from May 20th...

TVIX How to Profit from Volatility and the Next Crash

Bye bye TVIX... you will be missed :(.

Survival requires adaptation. Start adapting.
Comment: Alright guys, if you’re still holding as I am, shit just got real and R/R went from amazing (too good to be true I guess!) to now just a giant ?.

Here’s the best analysis I could find on this:
https://www.etftrends.com/looking-into-t...

I do expect this will continue to perform roughly in line with all inverse markets but already it’s dropping slightly more than the 3x SPXU.

We’ll likely see increased selling pressure on downswings and spikes alike.

All bets are off, my month of daily TVIX analysis was all for not.

Fck you Credit Suisse you piece of shit.

Related Ideas

Comments

@ProfitHarvest I found a good article and read its entirety, was gonna share it, but then realized it's the one you just posted in your recent update.

A quote that stood out to me was, "Credit Suisse is doing the single worst, least consumer-friendly version of “closing” that’s possible in modern markets."
+4 Reply
farmerisland farmerisland
@farmerisland, @ProfitHarvest what were your thoughts on those "3 options" the article pointed to, if we were to hold past July 3rd, (let's just say we think it's gonna crash July 6)..... I'm not really familiar with how that "fair value redemption mechanism" would work?...
+1 Reply
ProfitHarvest farmerisland
@farmerisland, I'm not in this to play that game. I'll be out and in UVXY by end of week win or lose.
Reply
Absolutely bullshit. So much for the harvest...
+4 Reply
ProfitHarvest farmerisland
@farmerisland locust swarm incoming
Reply
@ProfitHarvest ...the fund managers are raping people left and right these days. I'm still stinging from the reorganization of UCO and it impacts on my 2022 ask options. These fuckers are criminals.
+4 Reply
ProfitHarvest Imdmagic1
@Imdmagic1, It's all a big scam to milk money from Retail and Boomer Retirement Accounts as much as possible.

Tough for us little fish in this big, wild ocean.
Reply
I just moved everything to UVXY. But what ratio are you using? 1 TVIX to how many UVXY?
+3 Reply
ProfitHarvest macon2020
@macon2020, $ to $

UVXY was my 2nd biggest short play already followed by SQQQ, SDOW and SPXU which I will not be adding to.

There's other options but UVXY seems to be the best value short play after TVIX (RIP).

May save some cash by the end of this and spread some to a new short position behind UVXY but gotta do more research first.
Reply
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