Good points. The use of the tool is definitely not a long term hold as you get hammered on the cost of contracts under the hood of the ETF.
I currently hold BBOZ because essentially you can peg me as a 'perma-bear' along with some others in this forum. Though I am using it as a hedge. I still think bargains are around, happy to hold equities for longer term value, and if things do go belly-up with a repricing in the market at least the BBOZ will hedge some of those losses.
