&gt; <i>&quot;the rational action is not to play&quot;</i><p>The rational action is not to attempt a <i>short-term</i> play.  Having one side of your two-sided trade broken is a very bad outcome.<p>But if you&#x27;re making a long-term play, that consideration is irrelevant.  There&#x27;s no &quot;other side&quot; of the trade for you to match up with.  If you get an asset at 0.5X and then <i>don&#x27;t sell it</i> and then the exchange breaks the trade, you get your money back and you&#x27;re no worse off than when you started.  But if you happen to grab an asset at 0.5X and the exchange doesn&#x27;t break the trade, then you gained an asset for half of what it&#x27;s worth.  Now you&#x27;ve got a great asset in your portfolio, only you have twice as much as you should have been able to afford.  That&#x27;s a <i>great</i> move!