Silbert pointed specifically to the ProShares Ultra VIX Short-Term Futures UVXY, +13.15%, which is designed to offer leveraged exposure, 1.5 times, to an index of volatility futures.
The UVXY isn’t the same as exposure the Cboe Volatility Index VIX, +16.62%, or VIX, but it does depend on markets going down to be a benefit to long owners. In any case, Silbert’s initial tweet about purchasing UVXY was met with some derision earlier this week, but he seemed to be enjoying the leveraged ETFs gains on Friday.
It is worth noting that Silbert knows a thing or two about equities: Second Market, a popular trading exchange for private-company stock that he founded in 2004, was sold to Nasdaq Inc. NDAQ in 2015 for an undisclosed sum.
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