The Hang Seng Index took a complete 180 degree turn to close positively at +9% while the Shenzhen Component rose sharply to close at +4%. These moves are massive and rare for China to experience.
I believe they are a pump fake because China is getting drilled economically. The moves happened mainly on China announcing the easing of regulations on tech stocks and being more open to IPOs. When I saw the Hang Seng close 9% up I thought cancer was cured over there.
$CHAD is an inverse ETF, which means the fund profits when Chinese stocks go down. You'd buy calls in $CHAD if you're bearish China, and you'd buy puts if you were bullish China. The ETF is leveraged at 1x, seeing 100% of the inverse of the CSI 300 index.
When Chinese indexes pumped in the last trading session it lead to $CHAD going negative by over 10% today, marking the funds worst day in history since its inception.
I have a total of 20 Call Options at the $21 Strike for 4/14/22 at a cost of 0.10c.
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