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Raging Bull podcast: Jeff Bishop makes a short-term bet on volatility

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Jeff Bishop of TopStockPicks.com acknowledges that no long-term investor would ever want to own the UVXY — the ProShares Ultra VIX Short Term Futures ETF — where the best calendar year in the last five years was a loss of more than 60 percent. The ETF already is down over 80 percent this year. Despite that that strong long-term downward trend, Bishop sees missile tensions with North Korea and other circumstances raising volatility, and he believes UVXY will pay of as a contrarian play in the next week to 10 days, noting that a 2 percent drop in the Standard & Poor’s 500 could result in a 20 percent move in the UVXY.

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Jeff Bishop is lead trader at TopStockPicks.com, running short-term trading strategies primarily using ETFs and stock options. At the time this interview was taped, he had shares in UVXY — which he started purchasing Sept. 1 — and also had Sept. 8 call options and had shorted Sept. 8 put options in the ETF, as discussed in the interview. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.

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