he probably lost it all. dumbest trade i ever seen is to leverage your bet by buying calls and puts on opposite leveraged ETF's. why would you use that much leverage when these ETF's are a scam. even if you wanted to be bearish, the only prudent trade would have been to do a straight short on IWM or do IWM puts. at least do a damn spread so it doesn't cost as much. oh well, anyone who plays these 3X ETF's deserve what they get. or shall i say, don't get.