Last month, Credit Suisse shocked the exchange traded products world by announcing that it would shutter the VelocityShares 3x Long Crude ETN (NYSEArca: UWTI) and the VelocityShares 3x Inverse Crude (NYSEArca: DWTI).

As of Nov. 28, UWTI and DWTI had $1.5 billion and $176 million in assets under management, respectively.

In either case, those are figures not typically associated exchange traded products that are closed and liquidated. Credit Suisse will delist and suspend further issuance of the two leveraged ETNs effective December 9.

Traders that like the idea of triple-leveraged oil exchange traded products might not be without for long. United States Commodities Funds (USCF) has filed plans for a triple-leveraged crude oil product.

“Fund provider US Commodity Funds this week filed a preliminary prospectus for a triple-leveraged exchange-traded fund linked to light, sweet crude futures, less than two weeks after Credit Suisse announced it will delist two 3x oil-tracking exchange-traded notes that are heavily trafficked by traders,” reports Chris Dieterich for the Wall Street Journal.

While they wait for that product to come to life, aggressive traders have existing leveraged options in the oil space.

For example, bullish traders can consider the ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO), which takes two times or 200% daily performance of WTI crude oil, and bearish investors can take a look at the ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO), which tries to reflect the two times inverse or -200% daily performance of WTI crude oil, and DB Crude Oil Double Short ETN (NYSEArca: DTO), which also follows a -200% performance of oil.

For more information on the crude oil market, visit our oil category.