XIV Short Volatility VIX
WOW!!!!!!
High of 146 down to 6.74????
Any one know why so much????
Edit: Credit Suisse forced to liquidate this ETN.
https://seekingalpha.com/article/4143945-xiv-short-volatility-fund-forced-liquidate-black-swan-2018
WOW!!!!!!
High of 146 down to 6.74????
Any one know why so much????
Edit: Credit Suisse forced to liquidate this ETN.
https://seekingalpha.com/article/4143945-xiv-short-volatility-fund-forced-liquidate-black-swan-2018
Maybe the fund has been closed due to volatility issues. Never invest in etf or etn without reading prospectus!
This should go for the history books as an example for your suggestion.
https://www.cnbc.com/2018/02/06/the-obscure-volatility-security-thats-become-the-focus-of-this-sell-off-is-halted-after-an-80-percent-plunge.html
As explained in the VelocityShares prospectus, the company can elect to “accelerate” any of their ETNs, liquidating them early.
“If the price of the underlying futures contracts increases by more than 80 percent in a day, it is extremely likely that the Inverse ETNs will depreciate to an Intraday Indicative Value or Closing Indicative Value equal to or less than 20 percent of the prior day’s Closing Indicative Value and will be subject to acceleration,” read the company prospectus. “If an Acceleration Event occurs at any time with respect to any series of the ETNs, we will have the right, and under certain circumstances as described herein the obligation, to accelerate all of the outstanding ETNs of such series.”
my bmo investorline showing up with about half my holdings as zero,ziltch, nada. wtf??? impossible to do a trade. Good luck phoning as well.Double oy ve
Set to close Dec 20 at $4.22.
There was a ZH last summer that outlined the risks with these, clearly suggesting that a one day volatility spike (if VIX say doubled) could trigger this kind of event.
Sorry … Feb 20. Fully, where is the comment editor function?????
as an author you should be able to edit your own comments
as an author yes, but in the comments/replies how?