Call Sales Grow in the Ultrashort S&P 500 ETF (SPXU)
May 20, 2010 12:55 PM
Shares of the PROSHARES ULTRASHORT S&P 500 ETF (NYSE: SPXU) are screaming higher today, up by over 9.36% to $36.11.
Options traders are taking the opportunity to get short calls and volatility in the ETF today. Action has been largely small lots, though this is one of the more thinly traded issues. Call volume is running at 2.12x the daily average.
The PROSHARES ULTRASHORT S&P 500 ETF seeks daily investment results, before fees and expenses, which correspond to triple (300%) the inverse of the daily performance of the S&P 500 Index. The fund invests in equity securities and/or financial instruments (including derivatives) that in combination should have similar daily return characteristics as triple (300%) the daily return of the S&P 500 Index. It is nondiversified.
