thomberg1201 12:10 pm on Wednesday, March 11, 2020
Tags: ContangoETFs ( 446 )

#contangoetfs GUSH Down to .33….

#contangoetfs GUSH

Down to .33. Can it go to zero?

Ramie 12:46 pm on Wednesday, March 11, 2020

It can theoretically. Since it’s 3x leveraged if oil (or more accurately XOP) fell more than 33% in one day (it almost did earlier this week) then GUSH would have to go down 100% which would kill it. But have no fear Direxion to the rescue with a 1:40 reverse split so it’s all good LOL.
- Jeff 12:49 pm on Wednesday, March 11, 2020
  
  A 1:40 reverse split would mean my 20-strike calls would become 800-strike!
Option Iceman 12:49 pm on Wednesday, March 11, 2020

GUSH – the low was around .65 on my chart.
- Jeff 12:50 pm on Wednesday, March 11, 2020
  
  Followed @optioniceman from yesterday: Sold $GUSH March 20th 1 puts for .40. Max loss: .60
- thomberg1201 1:04 pm on Wednesday, March 11, 2020
  
  You are right-sorry everyone, it was down about .33 at one point today.

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