8/22/17 1:20 PM update: See there, waiting for just the low for this move to setup already saved you a full/fool 16% in premium as the 9/8 expiry UVXY $35C's (calls) are now trading at 2.50 (were at 3.05 when I posted this blog)...or last trade at 2.50 anyhoo. They should get even cheaper than that...but probly not too much cheaper.
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8/22/17 3PM EST update: With UVXY continuing to mark lower lows there is "no way" this trade "properly" sets up today so time to close up shop errrly for the day.