Graniteshares 3LTS chatter

Note of caution particuarly with 3x on a volatile stock.
If at ANY TIME within the trade of a product, the underlieing share (in this case Tesla) goes -34% with respect to the opening price you lose EVERYTHING.
It automatically closes the position and it’s the end of it.

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Really, nobody should be doing what I’m doing.


I signed up for volatility back in June/July and that’s what I’m getting:

I am definitely the former and inexperienced. Do you have a link to the epic post? Thanks for your help

Thanks for the details Nick. It is very much appreciated.

I moved everything to it’s own thread as it had little to do with S&P500 inclusion…

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Gosh… that’s scary! People lost money in ) digits! Looks like I may need to stay away from this!!:flushed:

Just to stress @EquityInvestor s point, it does not matter if it fell to that value for 1 millisecond in intraday timeline, it is gone.

Most leveraged ETN providers put “stop loss” orders to prevent this, but I think this makes it even more dangerous on volatile stocks.

A rumour on the tradefloor affecting shareprice 10-15% for may be less than 10 minutes will trigger these “stop losses” and you’ll end up with a permanent 30-45% loss.

Leveraged products come with more intrinsic risk and should be used carefully (if at all) after much investigation. It is not as simple as get rich 3x faster :slight_smile:

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Granite shares can stick it I’ve read the 3x rolls Royce short!!!

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Sorry if this is a bit silly or already obvious: since TSLA is up approximately 6% today I take it that means 3LTS should be up 18% tomorrow?

Not by the full 18%, 3LTS already rose by quite abit today. It will open higher tomorrow because TSLA has moved up since the LSE closed.

It’s scary these leveraged things are still being traded :astonished:

I am so full of regret. I sold my 3LTS on Friday.

did it seem like a good decision at the time? can’t help it if so.

No I was dumb as hell and got scared because making gains always makes anxious. Why the hell would you sell TSLA before the inclusion date. I dunno, just wanting to lock in those margin gains.

I still bought TSLA after selling 3LTS anyway. But still…


Ok thank you for clarifying!

@Mcmalloch, please refer to our Educational section for additional explanations on Value and Price of the ETP : GraniteShares

@nickspacemonkey Thank you for clarifying

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Anyone holding 3sts ($0.008 atm) as a hedge? took a small punt which most likely will bomb. I’m a TSLA holder btw

Lol great minds:

I’m a TSLA hodler also.

Edit: I don’t think this was a good idea lol. This thing ain’t coming down.

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Isn’t it recommended not to hold those kinda products for more than one day lol