I do not or will never recommend owning these types of shares as they have slippage built in and it's not rocket science. They already made a 10:1 inverse stock spilt in 2015.
Even with a massive inverse stock split already executed it cannot maintain its present low price much longer. Anything
below $5 can be a target for an inverse stock split so this ETN is way past its time to do another inverse stock split. The only uncertainty is how big as 10:1 will not even do that much as that would put it back up to just under $20
The top line represents the WTI price level in the futures contracts that I cover at the $107 price level. ($450 ETN price) The only thing this ETN is good for is as a short once a new major bullish
top gets established. Even with an inverse stock spilt this ETN will be extremely lucky to ever reach the 2014 top again, if another 10:1 was initiated, the ETN would be over $4500 (10X450).
Who in their right mind would put out $4500 for a single ETN share? I am sure the stock will once again split normally to bring down the price.