Friends who have read my previous articles know that I have written four articles, two about VIX, one about the losses from leveraged and inverse ETFs, and one about Options, all of which are more theoretical and technical. Although the response has been pretty good, it seems that sharing practical operational insights may resonate more with everyone.
1. Decisively abandon the SVIX ETF.
Initially, when the VIX surged, there was actually a Buying of the SVIX ETF (buying from $12 all the way down to $10), but considering the investment amount and time (The time cost mainly requires time to wait for the paths and VIX's backwardation to pass, specific points can be found in the analysis articles mentioned earlier.However, decisively sold the ETF and replaced it with several Call Options on SVIX. Due to the leverage structure of Options, if SVIX rises from $12 to $14, the returns on buying Call Options on SVIX will far exceed those of the SVIX ETF, though the risks are also higher, making it suitable for those willing to take big risks with small investments.
2. Chose to Buy the SVIX single leg Call.
In general, many advanced options strategy practitioners do not recommend buying a single leg Call, but considering the differences between VIX and company Stocks, the single leg Call was still used as a tool.
3. Insights on operating SVIX Call Options.
The following is the result of just completing the first trade of a Call option with a strike price of $14 on May 16, 2025. The purchase price is $0.2 (The strike price at the time of purchase is relatively far from the current price, so it is relatively inexpensive.), at expiration...

$Intel (INTC.US)$ Very few units queued on RHS but still no soaring yet.
buyers no balls.