RE:HVU could fall below HVII'm also estimating (it's a rough estimate) that the SP would have to drop to 1900 for HVU to reach $21. My estimate is as follows:
1% drop in SP = 5% gain in VIX futures =10% gain 2X.
Due to slippage/USD exchange ect: 1% drop in SP = 7.5% gain in HVU
Slippage hurts.
Are my numbers reasonable? Other guesses?