By the time U.S. markets closed last Friday, EWZ was heading into Election Day with significant open interest in both calls and puts across various November strikes. [Final Pre-Election Look at Brazil ETFs]
BRZU’s bearish cousin, the Direxion Daily Brazil 3x Bear Shares (NYSEArca: BRZS), was closed last month. That is a shame because one can logically surmise that ETF, if it existed today, would be up 19% to 21%.
The ProShares UltraShort MSCI Brazil Capped (NYSEArca: BZQ) is enjoying Monday as it is up 12.2% on volume that is already more than triple the daily average. Interestingly, BZQ has seen October inflows of almost $6 million, none of which came into the double-leveraged ETF last week.
ProShares UltraShort MSCI Brazil Capped
