On January 19, 2026 the turbo put labeled X45SS, tied to ASM International N.V., was officially deactivated. Because the instrument’s redemption price was set at €1, holders saw the value of their position plunge by roughly 66.22%.
Turbo puts are leveraged derivatives that amplify both gains and losses. When the underlying stock moves against the trigger level, the product can be knocked out, resulting in a rapid loss of capital—as happened with this ASM International turbo.
Investors considering similar leveraged products should carefully assess the knockout thresholds, redemption values, and overall risk exposure before committing funds.
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Turbos