Someone is working over time to short this thing. SPY is flat, yet this thing is down +5% !?! Something isn't right... maybe final clean up before reversal. If you know something, *** let's talk about it ... ***
That 5% is right in line with contango. The only reason to be bullish on UVXY is if you believe the Armageddon is around the corner. This is the one stock where it pays to be dumb as a box of rocks like yours truly because everything will point to a big upside move yet it still goes down. I mean I guess I could be wrong and someday it may only be down 95% since inception but I doubt it.