Looking To Play Potential Volatility Heading Into The Fed's Decision On Interest Rates? This Fund Offers 1.5X Leverage
Portfolio Pulse from Melanie Schaffer
ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) is trading flat ahead of the Federal Reserve's decision on interest rates. The fund, which tracks the SPIKES Futures Short-Term Index, is similar to ProShares Ultra VIX Short Term Futures ETF (UVXY). The Federal Reserve is expected to announce a 0.25% rate hike, which could increase market volatility and potentially send SPKY higher. SPKY is currently in oversold territory and may be set for a short-term bounce.
July 26, 2023 | 3:34 pm
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POSITIVE IMPACT
SPKY is trading flat ahead of the Federal Reserve's decision on interest rates. The ETF is currently in oversold territory and may be set for a short-term bounce if market volatility increases following the expected 0.25% rate hike.
The Federal Reserve's decision on interest rates is a major market event that can significantly impact the performance of ETFs like SPKY. Given that SPKY is currently in oversold territory, it may be set for a short-term bounce if market volatility increases following the expected 0.25% rate hike.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
ProShares Ultra VIX Short Term Futures ETF (UVXY) is mentioned as a similar fund to SPKY. The performance of UVXY could also be impacted by the Federal Reserve's decision on interest rates and subsequent market volatility.
While UVXY is not the main focus of the article, it is mentioned as a similar fund to SPKY. Therefore, it could also be impacted by the Federal Reserve's decision on interest rates and subsequent market volatility.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50