The UVXY/VIX contango channel is intact. July projection posted

Please see my other posts on VIX, VXV, etc for my current outlook on volaitility (net: it should rise soon). That said, this channel is intact and will be until it isn't. It has paid me well so last week I bought $40 UVXY puts for July 17 expiry.

I expect VIX to post at 14.20ish then so UVXY should trade in the 29.67 to 25.70 range that week. Calcs are easy: 2.09*14.20=29.67; 1.81*14.20=25.70.

My gut tells me we may drift sideways out of this range before then, but my gut has been wrong. Trade the channel until price tells you there is a change.