The bottom line is it should rally if the market drops..how much and how rapidly is the key.
Anyway, this morning, and for the past few days, we saw indication that it might finally break through the $1.25 ceiling that has held it in check for the past month..and it did..on high relative volume(See chart).
All good stuff...
So, this one could get interesting as no doubt it's very cheap protection fpr regardless of how inefficient it's correlation might be.
More to follow..