Has anyone here shorted ultra or 3x ETFs for more than one day

U

user83248324

Hi,

I am wondering if anyone here has been able to short any of the ultra or 3x ETFs for more than one day. If you have:

What ETF did you short?

How many days were you short?

Did the shares eventually get called back by the brokerage before you were ready to buy them back?

And finally did you pay a hard to borrow fee. If so how large was the fee?

Of course feel throw in any other information you'd like about the short ETF experience and thanks for your time.
 
My experience with a short ETF = SKF (I copied this from one of my earlier posts)


And I'll reiterate it again – Never will I hold an overnight position in my day trading account again – never






I actually made this resolution back on September 19

On Thursday September 18 - I went long SKF, (it was dropping radidly but figured since financials were in such a downward spiral, it was just some sell off occurring), and held the position overnight - as per the plan

That night the Government banned short selling financials (along with some others)

I lost $13,287.78 before the market opened the next day (Friday September 19)

My resolution is - I will never again hold an overnight position in my day trading account for as long as I live

I take full accountability and responsibility for this loss...

It was just a mine field I had not accounted for
 
Thanks for the quick reply, and sorry about that loss. But just to clarify I was asking about people's experiences of shorting the long 2x or 3x ETFs or shorting the short 2x or 3x ETFs.
 
Sir

The loss was forgotten as soon as I exited the trade

The lesson will remain for the rest of my trading career


Good luck
Redneck
 
uwm and sso

No issues being short for several days. I did however notice that sso is sometimes not available. This came as a bit of a surprise given its liquidity. I was in a Tradestation account.

I will check right now.......both were in their "Easy-to-Borrow" list.
 
I'm willing to bet these will get called in after the 3 day settlement period as they have very few shares and all want to short them. The huge danger is if you're down big and they call it in you're screwed. after a huge run the way these erode its hard to lose if you hold a while. But the question is will you be allowed to hold?
 
Quote from user83248324:

Hi,

I am wondering if anyone here has been able to short any of the ultra or 3x ETFs for more than one day. If you have:
More...

I was short MVV for three days at Interactive Brokers, and had them called back. Strange.
 
Quote from Redneck trader:

My experience with a short ETF = SKF (I copied this from one of my earlier posts)


And I'll reiterate it again – Never will I hold an overnight position in my day trading account again – never






I actually made this resolution back on September 19

On Thursday September 18 - I went long SKF, (it was dropping radidly but figured since financials were in such a downward spiral, it was just some sell off occurring), and held the position overnight - as per the plan

That night the Government banned short selling financials (along with some others)

I lost $13,287.78 before the market opened the next day (Friday September 19)

My resolution is - I will never again hold an overnight position in my day trading account for as long as I live

I take full accountability and responsibility for this loss...

It was just a mine field I had not accounted for
More...
===================
R-Trader;
Well most of the trends were /are in your favor;
& thats why i prefer less gov as best.

On QQQQ swing position trade i figured[much] it could easily gap/or go against me 10%;
it seldom if ever has. But that would be 20% or 30% in a 2 or 3X ;typical derivatives

And know of two times the exchanges have closed.....................

:cool:
 
Quote from jnorty:

I'm willing to bet these will get called in after the 3 day settlement period as they have very few shares and all want to short them. The huge danger is if you're down big and they call it in you're screwed. after a huge run the way these erode its hard to lose if you hold a while. But the question is will you be allowed to hold?
More...

Can someone possibly explain what the three day settlement period does when one is shorting? Obviously I am a newb to shorting so thanks for any help you can provide.
 
Quote from murray t turtle:

===================
R-Trader;
Well most of the trends were /are in your favor;
& thats why i prefer less gov as best.

On QQQQ swing position trade i figured[much] it could easily gap/or go against me 10%;
it seldom if ever has. But that would be 20% or 30% in a 2 or 3X ;typical derivatives

And know of two times the exchanges have closed.....................

:cool:
More...

Hey Murray,

You're getting what I learned.... btw That Friday (19) morning SKF stopped trading for about an hour or so... If I remember correctly

Good Times - it was that day


Take Care Sir
 
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