TZA is trading 2.00% up at $46.35, amid a risk-off backdrop after President Trump rejected Iran’s proposal to reopen the Strait of Hormuz. - Reuters reported U.S. stock futures fell and oil prices rose, renewing inflation concerns. - Russell 2000 futures were down 0.36% pre-market; TZA’s daily leveraged inverse exposure makes the small-cap weakness relevant. - No TZA-specific catalyst is confirmed; this is a broad macro/geopolitical explanation, not company news.