ORCZ -2x Tradr 2X Short ORCL Daily ETF

ORCZ

ETF -2x BEAR standard
Tradr 2X Short ORCL Daily ETF
Issuer: Tradr · Tracks: ORCL · Listed: 2026-07-14
Implied AUM
—
Last Close
$27.15
20260720
30d Avg Vol
23,093
Options
—
Realized return vs theoretical -2x ORCL
Pair counterpart found: ORCX (+2x bull, Defiance Daily Target 2X Long ORCL 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 ORCL
Symbol Factor Direction Issuer Name Implied AUM 30d Vol Options
ORCX +2x BULL Defiance Defiance Daily Target 2X Long ORCL ETF $175.1M 3,248,977
ORCU +2x BULL Direxion Direxion Daily ORCL Bull 2X ETF $70.2M 3,402,427

How ORCZ works

ORCZ targets -2x the daily return of ORCL — 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 ORCZ 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.