New strategy using SVXY etf

I will be documenting a new strategy which is using the ticker SVXY which is an ETF based on the VIX. This ETF is an interesting strategy by itself but sufferers from large potential losses when the overall market has large sell offs. I will be attempting to only be long the ETF during periods when the VIX Contango yield is high, which is good for SVXY. I will be purchasing Call options on the ETF in order to leverage the gains. For those who do not want to deal with the annoying K-1 tax forms involved with this ETF you can use the XIV ETF and just purchase the stock itself. I will be starting with a $10,0000 investment.