XIV vs SPY and margin increases

All addressed in this article…

https://seekingalpha.com/article/4107433-xiv-vs-s-and-p-500-4-eras-2-calm-2-turbulent?app=1&auth_param=582at:1crpvjp:8982d3d242a79212e91d1182f551ab27&uprof=45&utoken=c139c4af499fb0eb008aa829e69993f6