The Market Could Be Volatile After Wednesday's Interest Rate Call: These Products Offer Upside Potential
Portfolio Pulse from Melanie Schaffer
Ahead of the Federal Reserve's decision on interest rates, ConvexityShares Daily 1x SPIKES Futures ETF (SPKX) dropped about 1%, hitting a new all-time low. The ETF, which tracks the SPIKES Futures Short-Term Index, is similar to ProShares Ultra VIX Short Term Futures ETF (UVXY). Traders looking for gains on stock market volatility could opt for ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY). Post the Fed's meeting, market volatility could increase, potentially driving SPKX higher.
July 25, 2023 | 4:43 pm
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NEUTRAL IMPACT
SPKX dropped about 1% ahead of the Federal Reserve's decision on interest rates. The ETF could potentially rise with increased market volatility post the Fed's meeting.
The ETF's price dropped ahead of the Federal Reserve's decision, indicating investor caution. However, the potential for increased market volatility post the Fed's meeting could drive the ETF's price higher.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
UVXY, which tracks the movement of the S&P 500 VIX Short-Term Futures Index, is similar to SPKX.
As UVXY is similar to SPKX, it could also be impacted by the market volatility following the Federal Reserve's decision.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Traders looking for gains on stock market volatility could opt for SPKY.
The ETF is positioned as a potential option for traders looking to capitalize on market volatility, which could increase its demand and price.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50