UVXY surging 5% today as broad market selloff continues

Shares of Ultra VIX Short-Term Fut Proshares (UVXY) are trading 6% higher at a price of $9.91 at the time of this writing.

The instrument was surging on market fears as the market began a broad selloff across all sectors

Ultra VIX Short-Term Fut Proshares has been trading between a 52-week high of $30.81 and a 52-week low of $8.71. The stock has a market cap of $1.44 Billion.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

StonedTurtle420710 - 19 upvotes - source
SQQQ SPXU UVXY 🚀🌌

bassanaut - 8 upvotes - source
Wow didn’t think I’d ever see my UVXY position in the green, started buying two weeks ago trying to time the pullback and have been bleeding out since. Safe to say if I actually close for a profit I’ll never attempt to catch a falling knife again. Hoping for 12-13

ElectrocutedNeurons - 6 upvotes - source
That's literally the point of uvxy. If you're buying and holding uvxy you deserve to lose all your money.

flaccidafterdominoes - 6 upvotes - source
Glad I went balls deep in UVXY friday

fallout017 - 5 upvotes - source
I bought calls, on uvxy

Comradio - 5 upvotes - source
UVXY - Cost basis $8.79 UVXY - 10c’s I like the way the day is shaping up.

codecookride - 5 upvotes - source
Well I loaded up on puts and UVXY calls Thursday last week. Too bad half of them expired last Friday! Let’s hope the other half saves me this week!

ButtStallion007 - 4 upvotes - source
Those bags are probably as heavy as BBBY the last few months lol. Like UVXY, one day they may moon for a massive gain.

codecookride - 3 upvotes - source
Russia and China are going to spiral this week and my UVXY calls are going to print!

OrionJohnson - 3 upvotes - source
I bought some 9/30 10c $UVXY on Thursday for 1.00, already sitting at 1.21 and probably gonna be ITM tomorrow with a month of rising to go. It’s not too late to yolo into these Monday morning guys