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Bloomberg
During the equity rout, investors were not only back to betting on volatility’s return, they were doing so using a leveraged security from the firm at the nexus of last month’s stock selloff.
As a jump in the VIX spurred activity across volatility-related securities, the exchange-traded product that had the highest volume was the VelocityShares Daily 2x VIX Short Term ETN. Known by its ticker TVIX, it’s a leveraged product issued by Credit Suisse Group AG—which was forced to redeem a note linked to stock swings in February.
Almost 71 million TVIX shares changed hands as the VIX surged as much as 38 percent, outpacing all other volatility-linked securities and the highest volume among US.
ETPs, excluding funds tracking the S&P 500 Index and Nasdaq 100 Index. The TVIX was nowhere near the top by value exchanged.