Launched at the end of November 2010, the VelocityShares Daily 2x VIX Short-Term ETN (TVIX) has been the most popular of the volatility-based ETPs to hit the market in the past six months. Today TVIX hit a new milestone – barely halfway into the trading session – by surpassing one million shares for the first time.
Back in the middle of December, I predicted TVIX “will hit a tipping point and become the darling of day traders” in 2011. Frankly, I am a little surprised that it has taken more than five months to hit the one million share mark, but now that TVIX is adding liquidity, I would expect that day traders, hedge funds and other short-term trading operations will become much more active in this product.
Below is a snapshot of the intraday movement of TVIX taken from Bloomberg for iPad.
- TVIX Finally Getting Due as Day Trading Rocket Fuel
- VIX and More and the 2011 Bespoke Roundtable
- Impressive Launch for Sextet of New Volatility ETNs from VelocityShares
- VelocityShares Jumping in to the VIX ETP Space with Leveraged and Inverse Products
- Bloomberg for the iPad