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Leveraged Nvidia ETF issuers saw trading surge in bearish products ahead of earnings

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Interest in leveraged exchange-traded funds that allow investors to profit when shares of Nvidia fall grew steadily ahead of the chipmaker's quarterly results, according to data from some of the companies that issued the products.

FILE PHOTO: A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. REUTERS/Mike Blake/File PhotoInterest in leveraged exchange-traded funds that allow investors to profit when shares of Nvidia fall grew steadily ahead of the chipmaker's quarterly results, according to data from some of the companies that issued the products.

These bearish products are structured to deliver daily returns twice the size of any loss in Nvidia itself, while the bullish ETFs use derivatives to double any daily gain. The discrepancy is even more pronounced in similar ETFs issued by REX Shares and Tuttle Capital Management. The number of shares outstanding in the T-Rex 2x Inverse Nvidia Daily ETF has increased tenfold since Nvidia's May earnings report.

 

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