In a piece I published last week in this forum (here) I mentioned how the availability of explicit leverage to some, but not to all, has frequently resulted in the tendency for all participants to ...
The ProShares UltraPro S&P500 ETF aims to deliver 3x the one-day returns on the S&P 500 Index. Levered ETFs like UPRO have positive convexity and volatility decay, causing them to deviate ...