Disclamer: I hold XIV for long periods of time.
@TopplingGoliath I can appreciate your concern for holding long positions in XIV due to its ability to rocket up and down. I have not done extensive research into VIX Lite, but why do the short positions on other items not concern you more? I may be missing something here, but holding XIV long means your losses are capped at what you put into XIV. However, in a black swan event the short positions do not have a cap on loses. This is why you can hold XIV long in an IRA but many of the other moves would not be allowed in an IRA. Why are the short positions not more of a concern?