Pretty Crazy day both at Work and Trading. JNUG, NUGT, and other ETF's will Reverse Split every so Often. This is No big Deal, and Direxion does it all the Time when the Price gets low or near $5.00
A While back this Happened to me and I was also unaware of how it worked. I had a Ton of JNUG at the time and freaked when I saw the price scroll by on the bottom of the TV Pre-Market on CNBC and I was trying to calculate what I should have after Going Past close to 80 Strikes as it almost doubles on each one and I was thinking, Just One Dollar Doubled 21 times is well over a Million Dollars and Doubling 80 Times I thought I would be a New Member of the Forbes 400 :-) I knew something was not right when I only added up to 51 Doubles in my Head and I had way over whatever that number would be when you roll past the Hundreds of Trillions of Dollars :-)
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