$TVIX Can $TVIX go back to $1,000? Good question, let's look at the numbers. When $TVIX hit $1,000, the underlying 30-day synthetic $VIX future was at $81. Let's assume this future goes from currently $43 back to $81. That's +88%, so the 2x leveraged $TVIX will go up 176%, i.e., from currently $280 to $775. To make it back to $1,000, the $VIX futures must be higher than they were at their previous peak. Surprised by this counter-intuitive, puzzling conclusion? Well, then it's time to read up on the decay of leveraged ETFs/ETNs. There are a few good articles on seekingalpha.