D333GS

Using the Double-Short ETFs (QID, SDS, MZZ, DXD)

Trying to understand the the QID. Used to short the QQQQ by about X two.
If I have it right, the QID will move in the opposite direction by about twice . If the QQQQ goes down or up $1 the QID will move $2 aprox.

Is this right?

OR

does the QID move equally in the opposite direction $1 for $1 aprox BUT in your trading account you show a gain or lose of X2


Thanks

John