---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42571079.md"
description: "$XL2CSOPSMSN(07747.HK) Many people have a misconception that if the 2x ETF doesn't keep up with the underlying stock's gain today, it's due to decay. Actually, this is a return to net asset value (NAV). Leveraged decay only occurs over multiple days of volatility, not on a single day. Yesterday, Samsung had a 3.5% premium, and SK Hynix had a 7.5% premium. Today, Samsung rose 2.5%, so the 2x ETF should have risen 5%. However, affected by the overall Hong Kong market, it closed down 1%. Factoring in yesterday's 3.5% premium, it's at a 2.5% discount today. SK Hynix's underlying stock fell 0.2%, so the 2x ETF fell 6.8%. Factoring in yesterday's 7.5% premium, there's still about a 1% premium now, basically even.$XL2CSOPHYNIX(07709.HK)"
datetime: "2026-07-10T08:55:22.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42571079.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42571079.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42571079.md)
author: "[牙签](https://longbridge.com/en/profiles/18523906.md)"
---

# $XL2CSOPSMSN(07747.HK) Many people have a misconce…


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## Comments (7)

- **Mr.Light · 2026-07-10T09:05:53.000Z**: How can the oscillation wear rate be calculated, and what is its approximate value? First time playing with leverage😐
  - **牙签** (2026-07-10T09:08:09.000Z): The greater the volatility and the longer the oscillation, the greater the wear and tear.
  - **Mr.Light** (2026-07-10T09:10:50.000Z): With such a big fluctuation from the previous high to today, can a 10-point wear and tear be stopped?
  - **牙签** (2026-07-10T09:11:43.000Z): It depends on how long it will take for the underlying stock to rise back up.