I’m waiting for someone to comment on this talking about a “gamma squeeze” without knowing what an authorized participant is 
https://twitter.com/iv_technicals/status/1360359579876528128 …
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Very interesting, any opinion on this comment? Tho a bunch of bids to UVXY could change things, it may not be a very efficient way to do sohttps://twitter.com/MinvstrD/status/1360477273959333890?s=20 …
There are two things in play here — 1. demand for UVXY/VXX can push up prices for VIX futures 2. mechanical buying of VIX futures by UVXY, whenever they rise in price, to maintain its 1.5x leverage. So it is in theory possible to create a self-perpetuating momentum effect here...
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especially if combined with additional leverage/gamma effect due to retail buying UVXY options rather than the underlying. In my opinion it would not be as dramatic as “volmageddon” which was caused by huge demand for XIV, the inverse VIX ETF (which somewhat ...
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counterintuitively also needs to buy on price rises) because I don’t think the size of UVXY is as large as XIV was back in the day, and the UVXY does not create such a large mechanical buying effect as XIV did - but I could be wrong!
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