It was announced today that the fund DXO was closed today, with specifics as to why not explained. DXO is a leveraged ETF, based on Oil futures. For every % Oil moves, DXO moves 2x%. There are many leveraged ETF's, most are new to the stock market.
I have mentioned leveraged ETF's such as SRS, FAS, FAZ, etc. What this means to the individual investor? Well if you in a fund, and it went "against you", hoping (praying) for the fund to return to the purchase price, you may be in for a surprise.
The fund could have the same fate as DXO and be liquidated. The losses you have at that time are sealed, with no mechanism to get the same % return, unless you start trading the futures markets.
The same goes for far dated options, on the ETF's.......which I am an owner of some.