May. 1 at 10:36 AM
$RBLU is a 2x long RBLX ETF, so a 48% gap down premarket means RBLX itself is getting cut roughly 24% overnight. Leveraged daily resets eat you alive on gaps like this.
$8M cap on the ETF, 5x avg vol, decay is doing exactly what decay doe
Source: https://tapeboard.com/chart/RBLU