According to Eric Balchunas, the only thing separating a YOLO TSLL options trade from a buy-and-hold VOO investor is time, underscoring that time horizon and decay dominate outcomes. Source: Eric Balchunas on X, Oct 8, 2025. For trading decisions, TSLL targets 1.5x of TSLA’s daily moves and is designed for short-term use, so compounding and path dependency can erode returns over multi-day holding periods. Source: Direxion Daily TSLA Bull 1.5X Shares (TSLL) fund documentation, Direxion. Adding options on TSLL introduces theta decay and volatility sensitivity, making entry timing, position sizing, and risk controls critical for PnL. Source: Cboe Options Institute education materials, Cboe. By contrast, VOO provides broad S&P 500 exposure at low cost for long horizons, reducing the impact of daily path variance versus leveraged products. Source: Vanguard S&P 500 ETF (VOO) prospectus and fund page, Vanguard. Risk-on activity in high-beta equities has coincided with stronger equity–crypto co-movement since 2020, meaning speculative surges tied to TSLA-linked products can transmit volatility to BTC and ETH. Source: IMF analysis on rising Bitcoin–equity correlations since the pandemic era, International Monetary Fund.