I read yesterday that Credit Suisse announced that it will once again create shares in TVIX so that it would stop behaving like a closed end fund, and become an ETN again. Shares plunged over 30%.
This morning TVIX had another 18% red gap and is now bouncing, dead cat or not. Since the 150% fib extension (shown as 50% in chart) was spot on yesterday, may be there'd be some traction with other levels as well. I post the levels here just for your reference. The chart does not show the full target which is 5.95 (or likely just 6 for the round number). The immediate level of interest would be 7.75, should it continues its current course.