Plenty of public equities have a peak that's 10x its trough, even without leverage or using options. Just as an example, many smaller-cap oil/gas companies look

Plenty of public equities have a peak that's 10x its trough, even without leverage or using options. Just as an example, many smaller-cap oil/gas companies look something like https://www.google.com/finance/quote/RRC:NYSE?window=MAX https://www.google.com/finance/quote/RRC:NYSE?window=MAX . Of course, these aren't investments for retail shareholders, they're lottery tickets. But if someone wants a lottery ticket rather than an investment, there's plenty of ways to get that, uh, exposure.