UPRO what happens if the spy loses 34% in day?
Hello! Just learned about UPRO recently with upsides and been reading into the glaring downsides as well. As a long term strategy what happens if you say invest $10,000 in UPRO one day and the spy drops 34% or more the next day? 34% x 3 would be a 102% loss, correct? Would that mean the entire $10,000 is down to 0, it can’t be right?
Is there safeguards built into place in UPRO that would stop a total loss of money going down to $0, I assume there is.