Aug 5, 2026: ProShares Ultra SK Hynix dug a -$237 hole

Red day, and I own it. Same pre-market gainers list, same plan — get in, catch the move, get out — but the exits went against me.

SKHU bit me

I worked SKHU (ProShares Ultra SK Hynix) — the 2x leveraged fund that tracks SK Hynix. I was selling into ~$16.28 across one print on 300 shares, for a -$246 hit. Leverage is a double-edged sword and today it swung at me — these daily-reset funds double the pain just as fast as the gain. Read: why a 2x fund can lose money even when your direction is right →

I don't mind losing on a clean read. What stings is letting a single name run bigger than any of my winners. That's a discipline problem, not a market problem.

Catching SPCH

I worked SPCH (2x Long SPCX ETF) — a 2x long SPCX ETF. I was in around $5.71 and out around $5.79 across 4 prints on 1,600 shares, for a +$135 win.

SKHZ: where it went wrong

I worked SKHZ (1x Short SK Hynix ETF) — the inverse SK Hynix ETF that pays off when the stock falls. I was in around $12.64 and out around $12.24 across 4 prints on 300 shares, for a -$77 hit. Leverage is a double-edged sword and today it swung at me — these daily-reset funds double the pain just as fast as the gain. Read: the single day two decisions made $2,206 →

Also on the tape

Smaller pieces that netted into the day: SPCE -$26, DAMD -$23. Read: the position I did nothing with for six weeks, and what it paid →

Add it up and it was a -$237 day. That puts my running total for this stretch at -$2,009. I'll reset, size down, and try to give it back slower than I lost it.