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Tvix


Guest PARP

Question

tvix is an ETN DFB on the vix ( expiry in 2029). Why between the 7/06/18 and the 8/6/18 there is a huge gap ? There was not such move from the vix itself. Is it due to a rebalancing ? If yes when is the rebalancing calendar please ?

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10 answers to this question

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Hey - the TVIX as an ETN (basically an instrument similar to a stock) will only be able to trade whilst the exchange it trades on is open. The underlying VIX volatility index itself continues to trade outside these times, so if it moves whilst the tracker ETN is closed, then a gap will occur once the exchange reopens. You can see this happens relatively frequently. 

2018-08-08 13_07_26-IG Trading Platform _ Spread Betting.png

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I agree with that. In general it can move by 200 points. But on the 8th of June the quote moved from 400ish level to 4000ish level. Usually the gaps are not as big. Could you please recheck again?

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Guest PandaFace
34 minutes ago, PARP said:

I agree with that. In general it can move by 200 points. But on the 8th of June the quote moved from 400ish level to 4000ish level. Usually the gaps are not as big. Could you please recheck again?

Can imagine it was just a corporate action to consolidate. You get that a lot I’m etfs because of the decay. @JamesIG will be able to tell for sure. (On mobile otherwise I’d google) 

Edited by PandaFace
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1 hour ago, PARP said:

Any update ?

Hi - I can confirm it looks like the VelocityShares Daily 2x VIX Short Term ETN (TVIX) had a one for ten stock split. You can have a look here https://www.nasdaqtrader.com/TraderNews.aspx?id=ECA2018-101 if you would like more information.

If you ever notice other significant ratio changes (for example 10 for 1, the other way around as a 1 for 10, doubling / halving etc) it's likely to be a corporate action. You can search "TICKER SYMBOL corporate action" and generally see exactly what has happened. 

Hope this helps. 

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39 minutes ago, PARP said:

Thank you very and useful info. 

Now if I would have had a position on this ETN, my entry level would have been adjusted ?

Hey- as you stated everything would have be scaled by a factor of ten. So entry levels, stops, limits, working orders etc. There is no real effect on your account, it is purely to rebase the underlying ETF to make the number more manageable. 

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Guest Seafarer

Nice information about gaps and reverse splits, BUT CAN ONE ACTUALLY TRADE VIX ETF's with IG? 

TVIX, ZIV, UVXY, VXX. Has anybody been able to go long or short with IG?

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I also want to do this but am instructed to call support. Some error message about trading at close only. Can anyone help with this. I understand it may be priced only once per day but I just want to go ahead and trade this. If this is impossible on IG, the error message ought to say so, then that at least would be something concrete (although disappointing) but at least we could head out to other platforms that ARE capable of enabling trades on this. 

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