A mate is doing short cvol , short xiv, making constant income. Ontop of that with the borrowed money he is investing in more safe vehicles. He still has a pile of cash on the account for adverse movements, which he generated with this strategy. Any thoughts about that, especially inherent risks, margin call on one leg, etc. The whole idea is really tempting, I have charted several etfÂ´s, etcÂ´s etnÂ´s, because of underperformance of one another (roll over costs of derivatives and log scale of the inverse vehicle) this idea looks like a cash cow. But I am still hesitant. The German Boerse has hunderds of etcÂ´s , etnÂ´s , bid ask spreads are descent on the etcÂ´s. How about borrowing costs for those funds ? Any discussion is much appreciated.