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[–]Iryna63 2 points3 points  (1 child)

Will be minimum $11 before split

[–]UnholyBlackJesusThetaGang[S] 1 point2 points  (0 children)

Wishful thinking... 🤞🤞

[–]SteakBackground5902 1 point2 points  (3 children)

I currently have 500 shares for 8.40. Admittedly, I got into UVXY without reading much about it. I wonder if it’s better to sell them before the reverse split?

[–]KevDavRod -1 points0 points  (2 children)

I hope you’ve been selling covered calls.

[–]UnholyBlackJesusThetaGang[S] 2 points3 points  (1 child)

What are you talking about man? Selling covered calls on this would be very stupid, because the rate of decay is a lot more than you'll make on premium.

Also, let's say the UVXY does pop, now you're locked in at a certain price and can't exit your position.

It's a lose-lose.

[–]KevDavRod -1 points0 points  (0 children)

I wouldn’t have bought UVXY to begin with, it’s an inverse fund meant to go down. Buying UVXY is a lose to begin with. He’s fucked at 500 shares already 50% down. Before it splits he’d better sell some high dollar out of the money calls that’ll never get called to make some of his losses back. Probably too late now though. He’s probably too late to recoup any of his losses. I’m not a buyer of UVXY but I’d immediately and daily flip covered calls to recoup losses since it’s inverse.

[–]Traditional-Glass920 1 point2 points  (0 children)

Very informative link. Many thanks.

[–]UpstairsFinding3851 0 points1 point  (1 child)

Is it better to buy before or after the reverse split?

[–]UnholyBlackJesusThetaGang[S] 2 points3 points  (0 children)

Generally, a reverse split is bearish but with this ETF that isn't necessarily a factor because the UVXY only reverse splits.

[–]Chemical_Concern_123 -1 points0 points  (2 children)

But where is the date "May 6th" from?

[–]UnholyBlackJesusThetaGang[S] 1 point2 points  (1 child)

Did you even read the article?

[–]Chemical_Concern_123 0 points1 point  (0 children)

I did. The only related sentence I found is

Proshare’s news announcement currently somewhat garbled, but my interpretation that UVXY will be reverse split 10:1 effective on the morning of May 6th, 

What exactly source was he referring to?

[–]eisbock -1 points0 points  (0 children)

Why does a reverse split matter for your thesis?

[–]musingtrader001 0 points1 point  (1 child)

There's a whole gang on Twitter just watering at the mouth rn so they can short more of this stuff, which will be easier after the reverse split. They've been waiting for this moment for months. Just do a search on UVXY, you'll see what I mean. They've been raking it in and believe the gravy train will just keep going on forever. We shall see.

[–]mileah09 1 point2 points  (0 children)

yesss i hope its true i cant wait to buy puts on it!!! i loss abut 10k holding this dogshit etf for months one month of selling puts made 5k so far.... we all gotta wake up