In U.S. stocks, the Dow rallied nearly 190 points in morning trade.
Exchange traded products designed to track VIX futures contracts have been crushed this year on falling volatility and “contango” in VIX futures.
For example, VXX was down 69% year to date heading into Thursday’s action, according to Morningstar. [Double Whammy for Volatility ETFs: Falling VIX and Contango]
ProShares Ultra VIX Short-Term Futures ETF (NYSEArca: UVXY) plans to reverse split after a decline in its share price. [VIX-Futures ETF to Reverse Split]
iPath S&P 500 VIX Short Term Futures
Full disclosure: Tom Lydon’s clients own TVIX.