Single stock leveraged etf?

I saw an add in here for a single stock leveraged etf for Tesla. The fund supposedly returns 150% of teslas daily return to the upside and 100% to the downside. There’s $TSLL and $TSLS I assume one is short and the other is long.

I wanted to ask how exactly this works. Especially outside of an intra day time frames. If Tesla makes a 2% return on the day, then will TSLL gain a 3% from open to close on the day? How will a 2% gain on Tesla for the week effect your holding of the TSLL?

Thanks