How To Turn $500 into $1.2 Million trading Volatility index
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You don't have to be a professional investor to make a killing in the volatility market. Just ask Seth M. Golden, who previously worked as a logistics manager at a Target store. The 40-year-old, who lives in a suburb of Ocala, Florida, says he's grown his net worth from $500 to $1.2 million in five years by shorting the CBOE Volatility Index — or VIX — according to a report from Dealbook's Landon Thomas Jr. It's a trade that's worked extremely well this year: The VIX has fallen 19% as investors have looked unperturbed by middling economic data and escalating geopolitical tension. The so-called stock market fear gauge even went as far as to hit a record low on July 21. Golden's investment vehicles of choice are the Barclays iPath S&P 500 Short Term Futures ETN (VXX) and the ProShares Ultra VIX Short Term Futures (UVXY), Thomas found. Both are popular exchange-traded products used to bet on the VIX, and he shorts them. T