UVXY

Lake-Dependent

Is VIX calls even worth it? Or UVXY better?

Lake-Dependent

better to buy UVXY calls or just straight VIX?

Lake-Dependent

UVXY weekly calls a bad idea?

PracticalAnywhere225

UVXY being driven down, near the yearly low... something is brewing. Probably won't be Christmas week, but soon after.

IslandExact429

I lost $150k this year on UVXY. Life is no bed of roses

IslandExact429

Just did my final calculations I burnt $150k this year on UVXY Nice

Jupiter168

**UVXY** all time low

Jupiter168

**UVXY**

No_Feeling920

He has UVIX, not UVXY (not that it makes much of a difference here).

YachtOrNothing

UVIX and UVXY are jokes. I wish there was a straight vix play.

jsie-iaiqhsi816278

!banbet UVXY 60 6h

Lower_Compote_6672

I have been printing since July by selling 30dte puts on UVXY when VIX is low and then buying to close at a profit when it spikes. I haven't ever been assigned and needed to sell covered calls but perhaps selling 7dte cc would work on assignment.

breakyourteethnow

"omnidirectional win theta, win delta" frankenstructure.", I love this lol it's so good. You have very deep understanding. You're right, am trying to perfectly hedge for everything and not possible. Something has to give. My main objective was to do something more with my LEAPS than just sitting there waiting for fundamental drift. This structure allows me to accomplish my principal objective, which is goal only had in mind for a while. However, this is just another tool in the toolbox which much match appropriate market conditions. This structure during earnings, VIX coming down after a big pop, any macro catalysts then it's best to close. This is for flat price action to down price action, with minimal grind upwards. * This I do believe to be an edge if vix is low to medium. The structure is a theta + drift harvester, not a gamma bet. High VIX = gamma is expensive = short gamma structures get punished. So this belongs in low-to-mid VIX, slow grind, or uncertain but not explosive environments. * The edge for when VIX is high is purely selling cash secured puts on positions want to go long on, capturing mispriced vol. * Aside from that, the only other edge have is using IRA for tax advantages to take advantage of fundamental drift going long delta exposure with max date LEAPS, where market makers cannot accurately price vol. so far out so LEAPS + IRA are an edge if can pick the right underlying's. This is where my research has led me to, believing this is the small edges could build in the market revolving around the principal stocks drift upwards 57% of the time, and extrinsic value minus time decay = 0. So selling theta both sides while going long in low to medium VIX environments is the first edge. Going long with CSP's during high vix environment to capture mispriced vol. is second edge. And third edge is mispriced vol. with tax advantages by going long LEAPS in IRA, rolling down and out whenever market sells off to capture the rebound with plenty of time. **Question**: What do you think of these three edges? Are they true edges? **Pending Idea**: The other idea is buying UVXY shares, selling OTM calls to capture gain when market sells off, then repurchase LEAPS at cheaper prices with more capital. Double positive, 10-20% UVXY share pop, repurchase LEAPS sometimes 30% cheaper with more capital. Each cycle can nearly double port. However, timing UVXY is so ungodly hard. You have to use it reactionary after structural change has taken place only on events like tariffs April 1st, Gov. shutdown Oct. 1st. Or if gamma position of dealers changes which am still learning about, something retail doesn't study and can give good indicator when VIX will pop, like the 2nd pop in Nov. for VIX when gamma positioning changed and everyone wondering why market was selling off so hard.

GneissFrog

Vol sellers came in hard, as expected for an FOMC week, but I thought they'd back off a bit after ORCL and AVGO dented the AI trade. Instead, they doubled down after the morning dip and kept all those put values suppressed. I suspect they won't buyback vol until later next week, which means I'll be sitting on UVIX and UVXY bags for a few more days :/

e30jawn

Yeah VIX and UVXY do seem mild for the day we had. Weird.

GneissFrog

Wild week. Made a hefty bag today betting against semiconductors (SOXS ftw) but the absolutely filthy shenanigans going on with VIX futures right now completely wrecked my UVIX and UVXY positions.

SargeMaximus

Added UVXY

IslandExact429

Why is VVIX up 6% but UVXY down 2%?

breakyourteethnow

"You don’t predict VIX. You wait for the catalyst that forces hedging. Event → Uncertainty → Bid for protection → VIX spikes No event → No uncertainty → No protection flow → UVXY bleeds The only spikes worth targeting come from event risk, NOT normal scheduled macro. Government shutdowns, tariffs, extreme geopolitical escalation, credit freezes, unexpected rate decisions, black swans. April and October were easy set-ups tariffs & government shutdown. VIX is reactionary and the reaction takes place when uncertainty births from an event. Strategically rotating into UVXY when something *big enough* forces uncertainty. I think may actually be able to pull this off. You don't predict ever the VIX, you react with it in real time, only when actual structural shocks hit the market and force hedging flows. VIX doesn’t move on opinions, it moves on events. Thanks for the luck." Copied comment from before. I probably won't enter VIX this week, it has to be because of a real external structural changing binary event. Something like rate decisions won't create the volatility rip am looking for. This strategy would've only done twice this year, April tariffs and October government shut down. Nothing else. So, we're probably on same page this week lol

breakyourteethnow

*You don’t predict VIX. You wait for the catalyst that forces hedging.* Event → Uncertainty → Bid for protection → VIX spikes No event → No uncertainty → No protection flow → UVXY bleeds The only spikes worth targeting come from event risk, NOT normal scheduled macro. Government shutdowns, tariffs, extreme geopolitical escalation, credit freezes, unexpected rate decisions, black swans. April and October were easy set-ups tariffs & government shutdown. VIX is reactionary and the reaction takes place when uncertainty births from an event. Strategically rotating into UVXY when something *big enough* forces uncertainty. I think may actually be able to pull this off. Thanks for the luck.

breakyourteethnow

I get why this looks insane from the outside. Timing volatility isn’t like timing a stock, it’s timing a regime shift. UVXY bleeds 95% of the time and only pays out during the 5% when fear actually spikes. Most people look at that and say "don't". What I’m doing is building a framework around macro signals, TA confirmation, event risk, and volatility structure so that I’m only exposed during the window where VIX actually has a reason to move. I’m not blindly buying UVXY and praying. I’m rotating out of LEAPS when macro conditions flash red, capturing a controlled 10–20% volatility pop, then rotating back into long-term positions at discounted prices. Is it insanely hard? *Absolutely.* The execution window is small, and being early is expensive. It's conceptually brilliant but mechanically brutal requiring an emotional discipline only few have. It's elite timing if even possible. I’m fully aware of the difficulty. Look at when VIX popped, it reacts to change, you cannot predict the pop. Meaning, government shut down day-of was time to buy, or the day before tariffs were announced on April. You have to wait for actual date of event to play out and uncertainty to be the reaction and capitalize then. It's 98% of the time in LEAPS, 2% of the time in UVXY timing the elevator drops. VERY HARD TO DO.

GneissFrog

I wouldn't necessarily say it is more complicated, it just has its own peculiarities that make it particularly dangerous, even for experienced traders, let alone beginners. The difference in liquidity, the devious expansion of bid-ask spreads, there are just different ways you can get screwed on VIX options. If you have an interest in VIX, I would suggest you first get very familiar with the VIX landscape as a whole before diving into VIX options. VIX futures, and how popular VIX ETFs like UVIX and UVXY are constructed, you'll want to be comfortable with all of these things before trading VIX options. Or, you might find that one of these other instruments better suits your needs than VIX options.

breakyourteethnow

You keep acting like the only two states are long or not long, but that’s exactly why you’re misunderstanding the setup. With UVXY, I’m not trying to be directionally long. I’m trying to structure the position so that IF a pop happens, I capture some intrinsic value *without* getting destroyed by the decay **i**f it doesn’t which is fine as well. UVXY is a mean reverting, structurally decaying product so the goal isn’t to ride upside dude. It’s to capture volatility dislocations while neutralizing the bleed. That’s not ‘being long UVXY’ in any meaningful risk framework. It’s building breakeven room on a product that naturally trends downward. If you flatten this into just "*you’re long!*" you’re ignoring the entire point of the construction.

breakyourteethnow

You keep saying “if” a lot too, you just don’t recognize it because your entire argument is built on a single assumption: UVXY behaves linearly with VIX futures and that futures traders price all meaningful tail risk perfectly. Both statements are objectively false.

breakyourteethnow

You're arguing against a strategy I never proposed, using assumptions that only make sense if you haven't actually traded volatility structures outside of textbook warnings. You're fixated on UVXY decay as if I didn’t already account for it in the math I showed you. Selling covered calls on UVXY is *not* a long-UVXY directional trade. It’s a structured way to capture mean reversion premium during decaying regimes, while forcing assignment only during the conditions where volatility backwardation gives you a statistical edge. You're also talking to me like I’m some guy who woke up yesterday and discovered VIX products. I literally corrected your breakeven math step-by-step. If you can’t get the arithmetic right, don’t condescend.

iron_condor34

You keep saying "if" a lot. Making up these scenarios in your head sounds great but they're more than likely not going to come to fruition. Here's another flaw in your thinking. You're quoting the VIX index? UVXY doesn't track the vix index, it tracks a basket of the front two vix futures contracts. Which are both trading higher than 16 right now. Vol traders are some of the smartest in the market, if you think we're going to get a spike in vol, have at it then.

breakyourteethnow

The Oct. and Nov. pops cost my LEAPS 35% draw down which could've been avoided. There were two ample opportunities with UVXY to conservatively lock in 15% twice, by just setting a sell order. You prove here you don't know math at all. I could've doubled my account, 15% growth, repurchasing LEAPS 35% cheaper. With just one of those pops, I could've doubled my port. Again, the risk to reward makes this so lucrative. You're going off general advice obviously 99% of people should never do what am proposing. So no. You are absolutely wrong. Even if you did get the spike, it would absolutely make your time worthwhile. You haven't even done the math on recent pops and look how you speak with such confidence. Confidently wrong.

Away-Personality9100

Yes. I collect money from covered calls, but not enough. Historically falls UVXY to fast. I lost over 30% of my portfolio. I short UVXY always, mostly if it goes up of course.

iron_condor34

It literally says in the prospectus to not buy and hold UVXY or you'll lose your investment. lol

breakyourteethnow

How long did you hold? No numbers just percentage what was your loss? Did you collect premium while going long? What macro events were you speculating on? I believe fed will begin jumbo rate cuts but is too far behind, jobs reports showing real cracks, PPI delayed, CPI will begin drifting back up, I suspect Jan. or Feb. will present volatility. SPY ran from April to Oct., no UVXY then, time to buy was last two pops. We've floored again, believe another pop due within 1-2 months after any potential santa rally. Haven't sold just yet.

iron_condor34

I would just not buy UVXY shares at all. That " if can time the pop within 1-3 months " is a big IF lol. Even if you did get a spike, that doesn't mean it's going to be big enough to make any of what you did worthwhile. We had that nice spike in Mar/Apr and then oct and nov weren't even close to the beginning of the year. Long vol etp's pretty much went straight down from the end of april until oct with a couple of blips here and there. But good luck timing vol spikes with your macro reading ability.

breakyourteethnow

Fair enough, I believe VIX at $16 with current administration, everything currently in the air, once seasonality of December is over next Jan. or Feb. absolutely believe UVXY will pop hard. Am waiting couple weeks to close port. Waiting for more divergences to appear. If QQQ starts selling off but SPY drifts higher we're about to see a real vol. pop

iron_condor34

I meant that being on the short vol side/being short uvxy. You're essentially not short UVXY since you're trading covered calls on them. You're long UVXY and it's going to bleed against you. Trying to time a spike in UVXY or vol in general is extremely hard. It's not worth it to do the way you're trying too.

Away-Personality9100

Yes, but UVXY makes often reverse splits and the price goes down and down. In the past, I tryed to buy and hold UVXY and I lost over 30K$. Since this time I only short and I collect very nice premium every week and make profit. So, everyone has own strategy. 🙂👍

breakyourteethnow

So you'd prefer to just let the shares drift? Do you understand the risk am trying to take on and what am trying to accomplish? If you collect premium you can offset contango, using shares paying no theta, if can time the pop within 1-3 months you're making money on UVXY pop, or closing at break even if fell behind and then rotating back to LEAPS for next leg up as VIX drops again. - You realize your comment, not collecting premium while holding shares of vol etp's *is an even worse idea?* If you don't have faith in your ability to read macro conditions, I'll be rotating to UVXY end of Dec. expecting vol. to pop in Jan. or Feb. this is strong probability and no contango won't ruin my position.

breakyourteethnow

Me too. He's wrong if one can effectively time UVXY pops within 2-3 months. Selling covered calls on ETP's, collecting premium to offset contango while awaiting vol. to pop or events/macro conditions to settle aka no pop and back to LEAPS. Would like your opinion on comment left.

breakyourteethnow

A lot of negative comments, I understand the complexity of what am doing. Nobody said timing the market would ever be easy. If I can time UVXY pops within 2 months, I can effectively buy more contracts for less, compounding delta exposure. This means rotating to UVXY about 2-3 times per year. Holding for 1-2 months. Selling CC's to collect premium to offset the contango otherwise. Shorting works as well but no intrinsic value gained which is the bread winner. I have not rotated yet. Great possibility of santa rally, I'll need to wait more like first week of Jan. to rotate into UVXY.

Away-Personality9100

I only short UVXY. Hige premium every week from calls and puts. 🙂💵

sharpetwo

Here is another view on it: sell the calls (indeed they are overpriced almost all the time) but do it in a reasonable amount. Worst case scenario that stuff blow up; congrats you are now short UVXY shares (due to come back down as soon as the VIX futures term structure is back in contango) so not a terrible position to be in. You can finance the borrow by selling ... puts. Main benefit: you do not have to time the spike. You also do not have to pay for the drift lower every single day. Your biggest risk: after months of quietly racking premium, you becoming increasingly confident and sell way too many calls and your account blow up. Make sure to always stick to strict management rules, and selling putting should help alleviate the pain.

breakyourteethnow

You have to ask for UVXY to grind down from here, SPY will have to break 7000. You think fed has started cutting rates on time? Never, they're too late like always. I think could get even bigger pop from VIX then ppl are expecting. Jobs reports is revealing the cracks, 10yr yields breaking out, Japan raising rates next week, am sure earnings in Feb. will show continued strong AI growth but until then with lowered volume during holiday season big sell-offs could happen here soon imo. Macro conditions must be evaluated extremely to play VIX correlated tickers especially leveraged imo.

breakyourteethnow

In six months time, if UVXY dumps from $46 to $23 or 50% loss, by selling .15 delta collecting $10 per day you can collect $2 per month or $12 of the downside offset. That's $11 drop instead or 24% loss instead of facing 50% loss. - So my point is, even worst case scenario has defenses in play. The question is, do you believe have the capabilities to predict macro conditions and effectively time the market? Let's say UVXY grinds down, take loss offset by selling covered calls, then can set your sell order to breakeven when next pop comes, transition into LEAPS again and ride the leg up as VIX dies down again. In an IRA, it's a sitting duck port you do not have access to margin nor diagonal spreads, nullifying any advantage trader can get. You can only take on asymmetrical delta exposure, directional bets utilizing leverage aka LEAPS. Which is only advantage IRA can get *but if still a still duck port.* No selling theta unless shares, no margin for juiced covered calls selling theta no edge. **Unless**, start to switch port to try to time market condition changes using UVXY defensively, to sell theta in an IRA, changing the port to a trading port and not a sitting duck port. That's how we can compound in an IRA to millions imo.

Connect_Boss6316

Hmmm. Interesting idea - have you seen how this would have behaved during prolonged (several weeks/months) of a slow drift up? The Uvxy shares will just keep decaying and decaying literally everyday and the covered calls you sell against them would have to be at lower and lower strikes. It could get to the point where your CC strike is lower than the net price you paid for the shares and if the market drops and UVXY shoots up, you've missed out on the profit. In fact, i'll have time in about a week from now and if you want me to test this for a particular period, just DM me. I have software where I can do manual backtests.

breakyourteethnow

My Plan: Am rotating entire port soon. Undecided if all at once or DCA into UVXY. Will sell covered calls on half the position with intention to roll up and out should strikes become breached. I want to await first two weeks of Jan. usually which says a lot of coming year. Believe a lot of volatility ahead is likely. Set sell order 20% otm, capture gains, avoid losses, reopen old LEAPS at better prices once macro looks better.

MedicaidFraud

Here you risk bag holding UVXY while it never reaches cost basis ever again

CapriKitzinger

You could consider selling a cash secured put on the UVXY. But you have to understand contengo.

CapriKitzinger

No, the UVXY has too high of premiums and they’re all wonky.

mrvile

Why not UVXY calls? Either way, playing VIX is fun but not easy to actually remain profitable.

iron_condor34

SVIX and the etp's track vix futures, not the index. You're also better off probably buying calls on UVXY, UVIX, or VXX. Also, trying to predict spikes is hard and you're more than likely going to lose money on this but good luck.

NiceJobSon

I’m getting family and friends (bears only) electric blankets, fresh seafood from the Pike Place fish market in Seattle and UVXY shares for Christmas. Bulls will get those wafer things from Chex Mix, dating advice and lessons how to drive a stick shift.

IslandExact429

Had so many UVXY shares as a hedge against Intel Neither worked LOL

Old_Ape_General

$UVXY Best long term hold there is

jsie-iaiqhsi816278

!banbet UVXY 60 377h

TheRealMrMadMike

UVXY 15 splits ago

LegNational3336

Whenever you see UVXY say 5-1 split or any consolidation amount, it’s usually gonna run. For SPY to run to ATH, UVXY couldn’t stay at 10 or it would run to a negative to keep up with SPY. 5-1 UVXY went from 10 a share to 60 and it’s already at mid 40.

Thicc-Impressions

Looks like a good day for some TGT 2 week ou calls, and some UVXY puts for the week and let the news keep saying everything is good cause retail numbers big

Boys4Ever

Dotcom Bubble might repeat and this time might be worse because of the higher volume of inexperienced retailers finding out for the first time markets don’t just go up and this time wasn’t different and they actually were clueless parroting all that nonsense from ChatGPT trying to sound smart. I’ll be making bank trading UVXY

Lower_Compote_6672

Can confirm this as well. I have been closing csps at 60 to 80 percent profit within days across tickers. I have been selling them at about 30 to 40 dte but avoiding tail risk is part of my trading plan. I traded T, ET, VZ, PYPL, HOOD, UVXY, BHVN, SOFI, NVO for those wanting tickers.

80s_JDM

Not even messing around: Take a look at the UVXY short volume before you are bullish for the week

nvidia69420

Are my 11/28 SQQQ2/UVXY1 calls cooked still or could dump at open save them?

Krammsy

Tally net Vega, use VIX options, or SVIX, VXX, UVXY, UVIX shares as a Vega hedge..... UVIX tends to move maybe 20% more than the VIX despite it's "2x" label, it decays rapidly, as much as 0.5%/day in heavy Contango.

IslandExact429

To all the folks that think i gamble my parents money LOL i held Gold to the top and took a 10% haircut there I got squeezed on the $PZZA buy out fake rumors and Apollo's nonsense Oh & also probably spent $100k holding UVXY and $30k on the Blue Jays ML for Game 6

Old_Ape_General

If we all buy calls on SPY and UVXY What happens then?

delta806

Man am I sure glad I forgot about my 100 shares of UVXY until now

notta-bot-2027

UVXY 5 day chart looks like this for some reason.

DefiantDelta

I do genuinely believe today was at least partially because of the SQQQ/TQQQ/UVXY splitting/resetting

naked_space_chimp

* Leveraged ETFs (like TQQQ, UVXY, etc.) split at today’s U.S. open. * Bots relying on old price history or not coded for splits freaked out, even more so given the London/Frankfurt power hour overlap. * Algorithmic stupidity led to outsized price dumps and confusion, resolving only once the machines were re-calibrated.​ * Lesson: Always code for splits or get ready to eat crow (or bangers, or brats).

ai-moderator

#TLDR --- Ticker: SPY Direction: Up The Gist: Leveraged index splits (TQQQ, UVXY) confused the European trading bots, causing a temporary dip. Once the algos recalibrate, we go up. Prognosis: My anus is tangled.

Samjabr

Whats a good buy - shares - if you think the markets are going down? No options or shorting. UVXY?

Thin-Way-6406

Since my UVXY calls spiked 400% after I sold them I have deemed that I must be flagged as some kind of volatile "little hedge fund." Is there a way to turn this fund into an ETF that I could sell for other investors to inverse and make premiums on it for myself somehow?

Thin-Way-6406

I only cry in the casino when its blatantly cheating. Aka the FIGMA IPO allocation where they took all my money and ended up issuing only one share then pump and dumped it. Or the FRC bank going tits up after JPM propped them up to give retail hope and then summarily illegally bought them after becoming bankrupt and left long term outside investors perma bag holding. Or the most recent pump of UVXY after my leaps expired. There's a laundry list of scammy shit that happens in finance and retail is the first ones to get boned and theres nothing we can do about it. So i reiterate my earlier position- gold, guns and crypto.

Thin-Way-6406

UVXY shot up 400% THE DAY after I sold my callS, which was the day before THEY expired, been holding for 2 months. Fucccckkkk I- HATE- YOU- WALL- STREET- FUCK- YOU- CHIMPS AND YOUR- TERRORIST- TOWEL HEAD MAYOR

Thin-Way-6406

UVXY shot up 400% THE DAY after I sold my callS, which was the day before THEY expired. Fucccckkkk I- HATE- YOU- WALL- STREET- FUCK- YOU- CHIMPS AND YOUR- TERRORIST- TOWEL HEAD MAYOR

Thin-Way-6406

You dont see the blatant manipulation here? VIX has been steadily climbing but UVXY hasn't and as soon as my calls are about to expire it magically pumps 400%+??? This isnt about balls. this is about being retail and being fucked because I cant do anything about it. Gold, guns and crypto are my new investment strategy, Fuck you guys.

Thin-Way-6406

UVXY shot up 400% THE DAY after I sold my callS, which was the day before THEY expired. Fucccckkkk I- HATE- YOU- WALL- STREET- FUCK- YOU- CHIMPS AND YOUR- TERRORIST- TOWEL HEAD MAYOR

Thin-Way-6406

UVXY shot up 400% THE DAY after I sold my callS before THEY expired. Fucccckkkk I- HATE- YOU- WALL- STREET- FUCK- YOU- CHIMPS AND YOUR- TERRORIST- TOWEL HEAD MAYOR

Thin-Way-6406

UVXY and HOOD bunch of fucking crooks

Thin-Way-6406

Like take UVXY, the market has been in turmoil for a while and I didnt see any moves on UVXY though I held long dated calls. Two days before they expire I finally sell cause im close to being ITM and as soon as I sell UVXY jumps up from 11 to 60 though VIX has been steadily rising this whole time... Tell me how that is not a scam?

Thin-Way-6406

That 11 to 60 jump on UVXY after I sold my calls 2 days before its expiration is fucking diabolical. Up there with that FIG scam they pulled on me. Hood is such trash. And I imagine the others arent any better. Rotating into crypto, gold and guns. F-U MM

MechanicalDan1

It was under 20, then BAM. UVXY looks funny today. 🤣

Thin-Way-6406

So your telling me the day after I sell my UVXY call, it jumps from 11 to 60??? Fuuuuucckkk youuuuu

IjonahI

reverse splitting UVXY so that it's now trading at $60/share is what you do when you want to keep negligently driving up the price of equities. beware of the level of put harvesting that occurred 23'-24', it could easily resurge

Bryaxis_D4

UVXY is absolutely ripping today

AEVIAR

Yup. Sad story. Seems like no one really knew about this until this morning. At least I did not. SQQQ, TQQQ, UVXY all got consolidated and options liquidity got messed up because no one will be willing to buy contracts for the pre-consolidated format 

Acrophobic_Pilot

Not able to buy calls on UVXY today hmmm 🤔

Fox-Musician

What happened with the UVXY ETF?

abused-throwawayy

I'm fucking ruined, im the only person in the fucking world with UVXY1 options arent i

abused-throwawayy

Does anyone else have UVXY1 now?

abused-throwawayy

Does anyone else have UVXY1 options now??

abused-throwawayy

Does anyone else have UVXY1 options? they arent moving at all what the fuck is this

purifyingwaters

UVXY just fisting me. 

Rexultdis

why are my long-dated UVXY options showing worthless after it split? is it really worthless just because it split? i know i'm fucked anyway but appreciate advice

Rexultdis

i know I am fucked for having options on UVXY, but is it really expiring worthless now just because it split? someone help

Ok_GAINZ

UVXY with another reverse split, making the IPO price $606,750,000,000 a share in 2011.

AEVIAR

All my UVXY and SQQQ options are gone because of consolidation and low liquidity. Wtf should I do now?

NebularMax

UVXY what will happen to my calls?

GutsyGretz

What’s going on with UVXY?

LowWind7998

Oh and puts on UVXY - down we go! 

hamstic

can someone tell wtf happened to UVXY

hamstic

UVXY wtfff

ImpossibleAardvark17

Now since UVXY is reverse split is it a good time to buy puts on that