A Stock Market Volatility Play Ahead Of Fed’s Next Interest Rate Decision: This Fund Offers 1.5X Leverage

Convexity Daily 1.5x SPIKES Futures ETF (NYSE:SPXY) was trading about 1.5% lower on Monday bouncing up slightly from near the $5 level, which acted as support over the last three trading sessions, holding the ETF up from continuing in a downtrend pattern.

SPKY is a 1.5x leveraged fund, which tracks the SPIKES Futures Short-Term Index and measures volatility in broad-based equities in a similar way to ProShares Ultra VIX Short Term Futures ETF (NYSE:UVXY), which tracks the movement of the S&P 500 VIX Short-Term Futures Index.