I knew these products were too good to be true. I don’t know why some short ETFs have been halted today (ProShares is mum), whether it is just overwhelming volume or that their shorting strategy has been impaired by the ban, but in addition to counterparty risk, this is just one more example of how options are superior.

Today is also a stress-test for brokerages. If yours is under performing today, better look for a more robust alternative, because this is only the beginning.