Some investors are creeping back to the “short vol” trade that wiped out several financial instruments earlier this week, betting that stock market volatility will fall once again.
More than $200m has flowed into an exchange-traded fund that narrowly survived the week’s upheaval.
The ProShares Short VIX Short-Term Futures ETF, known as SVXY, allows investors to bet on a decline in the Vix volatility index, Wall Street’s “fear index”. It lost 90 per cent of its value on Monday, but enjoyed renewed inflows of $71.7m on Tuesday and another $135.6m on Wednesday, according to Bloomberg data.
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