Our swing trade on UVXY went as follows bought 10 shares yesterday at $14.19 sold today for $15.32 for a profit of $1.13 per share for a total profit of $10.13.
Bloomberg reported last night that Proshares is going to try to take the risk out of the VIX products by lowering the risk from 2x to 1.5x.
The report STRESSED that these products are trading vehicles and are not for buy and hold use.
These ETFs are NOT stocks
Robinhood is the perfect platform to trade the UVXY since the free trading allows you to take very small positions. Here is an example:
If you bought UVXY at $15 and sold it at $16 for a profit of $1 on the no commissions Robinhood platform you would have to buy 17 shares of UVXY for an initial investment of $255 on Schwab to make the same $1 profit. I don't know about you but I would rather risk $15 than $255.
Click here for our summary on UVXY
Click here for a review on Robinhood
If you are going to set up an account and would like to help us out please click here to sign up. We get a free stock when you sign up and get your free stock.
(We are not professional traders this is just our opinion. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.)