Missing HVU I'm annoyed at the trading rookies that caused the delisting and deleveraging of all these VIX etf's (bull and bear).
They short VIX endlessly and ride the bull trend luck making out like bandits. Then one anomaly in Feb wipes them out and they whine and sue, causing ETFco's to reduce risk. Squeaky wheels getting all the grease. These traders deserved to lose every penny they lost. The long VIXer's lost FAR more during this 10yr bull run combined with contango than the shorts did.
These instruments functioned exactly as designed. TO A TEE. The errors were on the traders, not the instruments.
Now that markets are beginning to roll over and a trader wants to hedge or short the stock market with VIX via equity instruments (ETF), the choices are slim and are so deleveraged they don't move (UVXY 3x to 1.5x, SVXY from 1 to 0.5).
I've told Horizon's that the biggest flaw in these instruments was the daily rollover causing constant decay and hindering hold periods. I suggested ETFco's make them function truly as a future contract and roll the entire holdings over on future expiration date.
The contango/backwardation effect would be more profound and vicious once per month, but at least holders could plan on a multi-week hold, without being eroded.
The absense of these ETF's has pushed me and others to options. So the ETFco's lose. Bring these back, and you'll bring me back. To all your products.