If SPY drops 34% intraday but recovers by market close, will SPXL bankrupt?

[murray t turtle]

really, ww3 , nukes going off, and you dont think the s&p could drop a measly 34%?

i say you're wrong

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It sure could,SWB, but why WOULD---it?? Like Art Cashin said, shorts[S&P ] help fuel the rally.

And far as his original question, on 3X ETFs- ETNs drops, going bankrupt??Maybe be more likely in a sector fund; but that is real unlikely also; FAZ-FAS has about 714/+ prospectus pages-reasons why that most likely will NOT happen. NOT only do they keep the dividends on their longs, LOL; but they have 24 hours to price FAZ or FAS..............................................