SPXS.US is a triple-leveraged ETF tied to the S&P 500. S&P 500 Performance: As a leveraged ETF, SPXS's price is highly sensitive to the S&P 500's daily moves. A decline in the S&P 500 will lead to a magnified increase in SPXS's price.

Leverage Costs: SPXS incurs costs to maintain its 3x leverage. These costs are reflected in its price and can erode value over time, especially in volatile or sideways markets.

Interest Rates: Changes in interest rates can impact the cost of borrowing to maintain leverage, affecting the ETF's expenses and, consequently, its price.

Volatility: High market volatility can lead to increased trading costs and potential tracking errors, affecting SPXS's ability to accurately reflect 3x the inverse of the S&P 500's daily performance.

Expense Ratio: SPXS has an expense ratio that is deducted from the fund's assets, impacting its overall returns and price.

Supply and Demand: General supply and demand for SPXS shares can influence its market price, particularly during periods of high trading volume or investor sentiment shifts.