AMZO -2x Tradr 2X Short AMZN Daily ETF
AMZO
ETF -2x BEAR standardTradr 2X Short AMZN Daily ETF
Implied AUM
$820690
Last Close
$16.41
20260720
30d Avg Vol
13,822
Options
—
Realized return vs theoretical -2x AMZN
Pair counterpart found:
AMZU
(+2x bull, Direxion Shares ETF Trust Direxion Daily AMZN Bull 2X ETF)
Shorting both legs of a daily-reset bull/bear pair captures combined decay drift over time. Theoretical "free money" — actual edge depends on borrow rates (often punitive on the bear leg) and assignment risk on hard-to-borrow products.
Other leveraged products tracking AMZN
| Symbol | Factor | Direction | Issuer | Name | Implied AUM | 30d Vol | Options |
|---|---|---|---|---|---|---|---|
| AMZU | +2x | BULL | Direxion | Direxion Shares ETF Trust Direxion Daily AMZN Bull 2X ETF | $334.1M | 3,408,776 | |
| AMZZ | +2x | BULL | GraniteShares | GraniteShares 2x Long AMZN Daily ETF | $46.1M | 166,494 | |
| AMZG | +2x | BULL | Leverage Shares | Leverage Shares 2X Long AMZN Daily ETF | $234300 | 7,939 |
How AMZO works
AMZO targets -2x the daily return of AMZN — not the cumulative return over multi-day windows. The fund rebalances at the close each day using swaps or futures, which is what creates the volatility drag the chart above visualizes.
Mathematical headline: drag ≈ −0.5 × N × (N−1) × σ² per period. For a -2x product on an underlying with 25% annualized vol, expected annual drag is around 6.2%. Add expense ratio and the realized number is typically worse.
- Short-term tactical: daily and intraday holds are where these products were designed to live.
- Premium selling: options on AMZO carry very rich IV — see the quote page for IV rank and straddle pricing.
- Multi-day directional: works in strong trends; gets eaten alive in chop. Use the chart above to gauge the realized vs theoretical track record.