$MicroSectors FANG+ Indx 3x Leveraged ETN(FNGU.US) rose by eight points; after leverage amplification, the modest gains of large tech stocks look like this.
$iShares Nasdaq 100 ETF(IQQ.US) and $XL2CSOPSMSN(07747.HK) both saw slight gains, while $A CSOP HSCEICC(02802.HK) and $Pro Ultr Cvix Shrt Futures(UVXY.US) both saw slight declines.
On one side, 3x leveraged products are riding the unilateral trend; on the other, covered call and volatility products are slowly bleeding out—this divergence is almost inevitable on a broad rally day. Leveraged products bet on direction, while covered call and volatility products profit from sideways or declining markets; the market can only satisfy one side at a time 😏
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