How Did the Old -1X SVXY Work

Update  As of February 28th, 2018 SVXY will target -0.5 leverage instead of -1X.  This change was in response to the events of February 5th, 2018 when a massive VIX futures spike occurred in the last 30 minutes of trading, probably in part due to the rebalancing required by the 2X UVXY and -1X SVXY funds.  This change to SVXY will reduce its rebalancing requirements …

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How Do Bitcoin Futures Work?

The CME and Cboe/CFE, two large, well respected, USA regulated futures exchanges, recently started trading Bitcoin futures. These venues make it possible to trade on Bitcoin’s value without being exposed to the uncertainties of the mostly unregulated Bitcoin exchanges. To understand Bitcoin futures you need to recognize, among some other things, that these futures are not in the business of predicting Bitcoin’s price. Bitcoin Futures are …

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Free Bitcoin/Bitcoin Futures/GBTC Quotes, Charts, & Historical Data

Finding quotes and historical data for Bitcoin, Bitcoin futures, Bitcoin options can be an adventure.  Below I’ve assembled links to the online resources that I’ve been able to find. In many cases, data is available from multiple sources.  I did not attempt to list all of them. BTC Quotes Yahoo Finance (BTC-USD) Does not identify which exchange (s) it is using Shows market cap, supply, volume …

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A Better Way to Model the VIX

Models are useful. They help us understand the world around us and aid us in predicting what will happen next. But it’s important to remember that models don’t necessarily reflect the underlying reality of the thing we’re modeling. The Ptolemaic model of the solar system assumed the Earth was the center of everything but in spite of that spectacular error, it did a good job of …

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How do VelocityShares’ EVIX and EXIV Work?

In May 2017 VelocityShares introduced two volatility funds, EXIV and EVIX, which track European volatility futures.  In digging into these funds I’ve encountered a dense mashup of the familiar and the foreign.  The differences between European Volatility futures and VIX futures are relatively small so it’s reasonable to view EXIV and EVIX as close cousins of ProShares SVXY and Barclays’ VXXB, however, these funds depend …

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