Barclays’ IVO bites the dust
IVO, one of Barlays’ inverse volatility ETNs terminated today when it briefly dipped below its $10 termination value. The automatic redemption value will be $11.8024 next Monday, the 19th. IVO was designed to behave as a true short of the short term volatility index SPXVSP ( fundamentally the same index that VXX tracks). This approach avoids the potential path dependency / compounding errors of percentage …
