Tim Biggam's ProShares Ultra VIX Short-Term Futures Trade

On Bloomberg Markets, Tim Biggam of Delta Derivatives spoke about an options strategy in ProShares Ultra VIX Short-Term Futures UVXY.

He thinks volatility could drop and he wants to buy the January 60 put for $4.00. The trade breaks even at $56 or 21.21 percent below the current stock price. Biggam explained that this is the bet that the market is going to find its footing.