This. I'm so tired of so many comments on Reddit that go something like "Exchange circuit breakers stop trading if a major index drops 15%, this would be 45% wi

This. I'm so tired of so many comments on Reddit that go something like "Exchange circuit breakers stop trading if a major index drops 15%, this would be 45% with 3x leverage meaning it's impossible for the ETF to hit zero." This is false for the reasons you mention above and has happened to leveraged ETFs in the past. No one seems to care though.