Calls Purchased on Short Euro ETF (EUO)

Shares of the Proshares Ultrashort Euro ETF

are higher on the session by 1.79%, currently trading at $21.61. The ETF has been moving lower over the past three months as the Euro rallies back for the 1.18 level. Options traders are betting that the Euro will be heading back to those levels over the next few months. The September $21.00 call was purchased 5,000 times, on the offer, earlier in the session; open interest on the strike is only 584 contracts. This signals new positioning on the name. Call volume is now running at 9.01x the daily average. The Proshares Ultrashort Euro ETF seeks to replicate, net of expenses, twice the inverse performance of the EUR/USD daily price change. The fund normally invests assets in financial instruments with economic characteristics inverse to the index. It may employ leveraged investment techniques in seeking its investment objective.