May. 11 at 11:47 AM
$IREZ up 16% premarket to 8.03, which is the polite way of saying IREN is getting taken behind the woodshed before sunrise. 2x daily inverse on a
$18M aum etf doing 0.41x avg vol, that's not a trade, that's a handful of guys betting against a momo name with leverage and a death wish. name's down 70% in three months because that's what daily-reset inverse products do when the underlying rips, and yet here we are bidding the bounce. genuine question over the cold brew, who looks at a -69% YTD chart on a leveraged inverse and decides today's the day, or is this all just hedges getting parked overnight?
