In today’s session PowerShares QQQ Trust, Series 1 (ETF) (QQQ) recorded an unusually high (349) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious QQQ decrease. With 349 contracts traded and 74044 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: QQQ161021P00122000 closed last at: $3.55 or 13% down. About 21.23 million shares traded hands. PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) has risen 12.06% since March 1, 2016 and is uptrending. It has outperformed by 2.82% the S&P500.
PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The ETF has a market cap of $39.15 billion. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. It currently has negative earnings. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.
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