AMD股价周一暴涨38%，直接导致GraniteShares旗下3倍做空AMD的ETF彻底清零并强制清算，该产品管理资产约300万美元。此事件重新点燃对 2018年"波动率恐慌"重演的担忧，当时做空波动率产品单日损失超90%。分析师警告，在当前快节奏市场环境下，单股杠杆产品爆仓"几乎不可避免"。 10月9日，据媒体报道，这只在伦敦和意大利上市的ETF旨在提供AMD股价三倍反向收益，在关闭前管理资产约300万美元。GraniteShares在其网站发 布公告称，由于净资产价值已降至零，将不会进行任何赎回支付，该产品交易已暂停并将按照交易所程序退市。 彭博行业研究分析师Athanasios Psarofagis表示， 这证明了3倍股票ETF存在真实的爆仓风险 。分析师警告称，在当前快节奏的市场环境下，单股杠杆 产品的爆仓"几乎不可避免"，问题只是何时会在规模更大的美国市场出现。 AMD股价周一暴涨高达38%，直接导致GraniteShares旗下3倍做空AMD的交易所交易产品彻底清零，这一事件为日益火热的高杠杆ETF市场敲响警 钟。该产品净值归零后被强制清算，让市场回想起2018年"波动率恐慌"期间类似产品的惨烈 ...

Core Viewpoint - The significant surge in AMD's stock price, which rose by 38%, led to the complete liquidation of GraniteShares' 3x short AMD ETF, highlighting the risks associated with high-leverage ETFs in the current market environment [1][4][6]. Group 1: ETF Liquidation Event - GraniteShares' 3x short AMD ETF, which aimed to provide three times the inverse return of AMD's stock price, had its net asset value (NAV) drop to zero, resulting in forced liquidation and suspension of trading [1][4]. - The ETF was managing approximately $3 million in assets before its closure, and no redemption payments will be made due to the NAV reaching zero [1][4]. - This incident is reminiscent of the "volatility crash" in 2018, where similar products experienced catastrophic losses [4][5]. Group 2: Market Implications - Analysts, including Bloomberg's Athanasios Psarofagis, have indicated that this event underscores the real risk of liquidation for 3x stock ETFs, especially in a fast-paced market [3][6]. - The current market environment raises concerns about the potential for similar liquidation events in larger markets, particularly in the U.S. [6]. - The recent liquidation has reignited fears of a repeat of the "volatility crash" that occurred in 2018, where volatility spikes led to significant losses for short volatility products [3][5]. Group 3: Regulatory Context - The timing of the ETF's liquidation is notable as it coincides with multiple issuers, including GraniteShares, submitting applications to the SEC for new 3x leveraged single-stock ETFs [7]. - These applications include high-volatility stocks like Tesla and cryptocurrencies, indicating a growing interest in leveraged products despite regulatory challenges [7]. - The SEC's existing volatility rules have limited the trading of such products in the U.S., raising questions about how new applications will comply with these regulations [7].