Is An XIV Short-Squeeze Sending The Dow Soaring?

Update 1510ET: Correlation may not be causation but seriously...

*  *  *

Update 1450ET: Shortly after XIV re-opened and plunged, trigger circuit-breakers, we tweet-wondered if a short-squeeze was imminent...

Of course, XIV will close on Feb 20th at $4.22 - its termination value - but between then and now, who knows!

*  *  *

After collapsing more than 90% overnight, the culprit - XIV, was halted and suffered a termination event this morning.

It has just re-opened, crashed, trigger volatility circuit-breakers, and is re-halted...

As it collapses back to its termination value at $4.22...