Short, with leverage

As of this past Friday, my trading account is now 55% invested in BGZ--the triple leveraged inverse ETF.

You'll know how much of a fool I am in a few months.

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Why? Do you have a view on

Why? Do you have a view on volatility? On gamma? You'll mostly get exposure to that. A leveraged inverse ETF does not generally track the inverse of the market movement. The market might tank and the ETF might tank at the same time. You want to be shorting mini S&P futures, not buying short ETF.

My guess is volatility is going to increase and eventually spike

But that's not why I own BGZ. I just want leverage in a short position. I don't think I can trade mini-S&Ps with my deep discount broker. Also, my guess is that the time decay on those futures is a lot greater than that of BGZ which has slowed down quite a bit since it was introduced.

But, you do not have leverage

But, you do not have leverage in a short position.

Imagine the market goes down 10% then up 10%. The market went down 1%.
Your ETF goes up 30% then down 30%, that's down 9%. Market went down 1%, you went down 9%.

"Time decay" has nothing to do with it. Get an account with a decent broker like Interactive Broker if you want to speculate. You'll get access to CME, and you'll be able to trade mini dow, mini spx futures, etc.