20th April 2026 (Monday)
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Market Commentary
3x Short DLC Gains +29% as Netflix Plunges

Netflix kicked off US earnings season by plunging 9.45% on Friday (17 April), as investors looked past better-than-expected results and reacted to news that co-founder Reed Hastings would step down as chairman

Amplifying the return, the Netflix 3x Short DLC surged around 29%, while the Netflix 3x Long DLC declined a similar magnitude.

Among the US companies scheduled to report over the next two weeks are Tesla on 22 April, followed by Amazon, Alphabet, Meta, Microsoft, and Apple in the following week.

Tesla has been on a recent short term uptrade, gaining around 15% over the past 5 trading days. Correspondingly, the Tesla 3x Long DLC has gained around 46% while the Tesla 3x Short DLC has declined by similar magnitude. 

Meanwhile, US equity index futures slipped on Monday (20 April), while oil prices jumped after US-Iran tensions re-escalated over the weekend in the Strait of Hormuz.

Nasdaq-100 futures were down 0.5%, driving a 3.5% rise in the Nasdaq 7x Short DLC, while the Nasdaq 7x Long DLC fell by a similar magnitude.

US DLCs listed on SGX track the overnight price movements of US single stocks, offering leverage and inverse exposure.

US DLCs offer investors an opportunity to respond to earnings surprises and other after-hours catalysts from US companies during SGX market hours ahead of the US market open.

See the full list of DLCs here.

9E7W
Netflix 3xLongSG280725
NFLX 3x Long
Last Price1
6.670 -0.22
(-3.19%)
Last Update: 20/04/2026 13:10
 
WWRW
Netflix 3xShortSG280725
NFLX 3x Short
Last Price1
2.220 +0.04
(+1.83%)
Last Update: 20/04/2026 13:10
Last Price1: The DLC price displayed is based on the 'bid price' instead of the 'traded price'. This is to provide a more accurate representation of the DLC value at each particular point in time and a more accurate reflection of DLC price changes. DLCs do not trade as frequently as shares and sometimes may not record a trade for a long period of time though the bid/offer prices quoted by the Designated Market Maker may continue to move, therefore using the bid price is usually the best indicator of a DLC value.
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LIM & TAN DLC PROMOTION

PHILLIP: NO MINIMUM COMMISSION

CGSI DLC PROMOTION 

New Issuance
Stock
Code
DLC
Name
Underlying Leverage
Factor
Listing
Date
IWWW Alibaba 5xLongSG280316 Alibaba 5x 09/04/2026
EIKW Popmart 5xLongSG280316 Pop Mart International Group Limited 5x 09/04/2026
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Education
US Stock DLCs: What are the benefits and how does it work?

Click here to watch the video

Top Gainers / Losers
Code Name Bid Change1
(%)
XCVW CityDev 5xLongSG270930 +0.25
(+22.12%)
WF0W Sunny 5xLongSG280316 +0.29
(+22.05%)
LTYW Sunny 5xLongSG261027 +0.029
(+21.97%)
YYZW Tencent 5xLongSG280202 +0.1
(+13.99%)
YODW PetroCH 5xShortSG280202 +0.05
(+13.89%)
Code Name Bid Change1
(%)
UYNW Sunny 5xShortSG270112 -0.085
(-22.08%)
9VHW Tencent 5xShortSG260513 -0.005
(-16.13%)
OGIW PetroCH 5xLongSG270427 -1.05
(-14.17%)
KFCW PetroCH 5xLongSG280223 -0.125
(-13.97%)
W7XW Tencent 5xShortSG270827 -0.08
(-13.33%)
Bid Change (%)1: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day.
Intinsic Closing Value: Last updated on 17/04/2026
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Top 10 traded DLCs
Code Name Underlying1
Chg (%)
Bid Change2
(%)
Bid Price Value traded
Y9GW HSTECH 3xShortSG280309 +0.60% -0.02
(-1.92%)
1.020 2M
TNUW HSI 7xLongSG271116 +0.73% +0.025
(+4.76%)
0.550 940K
FNTW HSTECH 7xShortSG270729 +0.60% -0.015
(-3.75%)
0.385 624K
LZJW HSI 7xShortSG270729 +0.73% -0.02
(-5.56%)
0.340 605K
SYHW HSTECH 7xLongSG271216 +0.60% +0.01
(+3.03%)
0.340 582K
ECJW HSTECH 3xLongSG280309 +0.60% +0.005
(+1.01%)
0.505 394K
KMMW Alibaba 5xLongSG270930 +0.59% +0.002
(+3.70%)
0.056 346K
B00W HSI 3xLongSG280309 +0.73% +0.03
(+2.07%)
1.480 293K
ZVNW Alibaba 5xLongSG270712 +0.59% +0.01
(+2.56%)
0.400 289K
9B2W HSTECH 7xShortSG270309 +0.60% -0.006
(-4.38%)
0.131 264K
Underlying Chg (%)1: Data calculated based on the percentage change in underlying asset price between 17/04/2026 and 20/04/2026 13:10.
Bid Change (%)2: Change in Current Bid Price with respect to the Last Bid Price from the previous trading day .
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