by Ian Cooper

Don’t get too excited about a debt ceiling agreement just yet.

While President Biden and Speaker of the House McCarthy agreed on a few issues, the debt ceiling debate is still ongoing. Now, according to CNBC, some Republicans said they would oppose a deal to raise the debt ceiling in a sign of further contention.

While you can always pick up put options on the major indices, another way to prep for potential chaos is with:

Pro Shares Ultra VIX Short-Term Futures ETF (UVXY)

As the VIX pops, so does the UVXY ETF. For those of you that are new to the UVXY, the ETF was designed to match two times (2x) the daily performance of the S&P 500 VIX Short-Term Futures Index. As the VIX moves higher, the UVXY typically follows.

iPath S&P 500 VIX Short-Term Futures (VXX)

The VXX ETN provides exposure to the S&P 500 VIX Short-Term Futures Index.

ProShares VIX Short-Term Futures ETF (VIXY)

ProShares VIX Short-Term Futures ETF provides long exposure to the S&P 500 VIX Short-Term Futures Index, which measures the returns of a portfolio of monthly VIX futures contracts with a weighted average of one month to expiration.