[cm2187]

Actually the intraday indicative value, i.e. the value of the underlying VIX strategy has to go down by 80%, not the market price of the ETN.

Though right now I think we are close. The ticker is XIVIV. I just closed my bbg but I think we were pretty much there. I don't know if non standard trading hours matter though.

The trade was too crowded. Too many people shorting the VIX without looking at the risks. This ETN lost 80% of its value in a matter of days in 2011, and tanked 40% intraday in Aug 2015. It is too easy to forget the risks.

[daxorid]

Yes, well, they just posted a CIV/NAV of $4.22, so that's probably the end :)

http://www.velocitysharesetns.com/xiv