TVIX Recent Returns Make Little Sense: No Excuse for CS this time

The TVIX (NYSEARCA:TVIX)  has been responsible for some unusual trading recently. The index, which promises to double gains on the VIX volatility index, was down 30% on March 22nd as the VIX rallied, and in the last few days as the VIX rose 22% the TVIX was only up by 16% when it should have been up 44%. The volatility in the volatility tracker has caused doubt as to the index's future. Media releases from the end of March revealed that the SEC was reviewing the product, a move that...