This is a leveraged short position and the value will naturally decay over time. Eg. It may give you 2x leverage on a down day, but 2.5x on an up day. For this reason I would only hold it for a few days at a time.
I bought BBOZ in January 2020 and when the market crashed it doubled in value. However I made the mistake of only selling a small portion, expecting the market to fall further. However it tracked sideways with high volatility and the end of May (despite the market being down about 15% from my purchase date) BBOZ was back down to my purchase price. (At least I exited with some profit, and learned a lesson not to be greedy)
Thankfully I also had BEAR, this was not leveraged and despite smaller profits, it didn’t decay in price when the market was flat.
