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Rune is having a tough day in the markets. The co-founder of Sky recently closed his 7x leveraged short position on the Nasdaq 100, but the result was quite bad: a -22.68% loss. That’s a heavy hit.
What’s interesting is that his portfolio is a complete mess now. He has about $518,000 in long positions (oil with 20x leverage and 7x), plus a short in the S&P 500 with 20x leverage. The total of his portfolio is around $678,000 but it’s completely in the red, with floating losses of about $61,000.
The drama is that a month ago he made a big bet on oil when it was rising and reached over $1 million in unrealized gains. But then the price dropped, and now those positions are losing. That’s what happens when you use so much leverage, right? One thing goes well and you feel invincible, but then a fall and everything crashes.