The VelocityShares Daily Inverse VIX Medium Term ETN (NYSEArca: ZIV), which saw volume of nearly quadruple the daily average on Monday, is in contango, according to Cherney. ZIV tracks futures which are further out the curve, and are currently in contango (meaning the longer dated contracts are above the near date contracts)
Cherney describes ZIV as XIV’s “slower, tamer brother” while noting interest in ZIV has increased as well with shares outstanding in that ETN jumping 17% last month. While not on par with XIV, ZIV was no slouch in 2012 and 2013 returning almost 91% and nearly 63%, respectively. [VIX ETNs Rally as Market Stumbles]
Traders looking to participate in further VIX upside from a bullish point of view can opt for the $174.6 million VelocityShares Daily 2x VIX Short Term ETN (NYSEArca: TVIX). TVIX surged almost 14% on nearly five times its average volume for the trailing three months. TVIX is up nearly 39% since the start of 2014.
VelocityShares Daily Inverse VIX Short-Term ETN
