A Reversal for ProShares UltraShort QQQ (ETF) Is Not Near. Professional Options Traders Are Bullish

 A Reversal for ProShares UltraShort QQQ (ETF) Is Not Near. Professional Options Traders Are Bullish

In today’s session ProShares UltraShort QQQ (ETF) (QID) registered an unusually high (134) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious QID increase. With 134 contracts traded and 3264 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: QID161118C00024000 closed last at: $1.23 or 5.1% up. ProShares UltraShort QQQ (ETF) (NYSEARCA:QID) has declined 24.77% since March 3, 2016 and is downtrending. It has underperformed by 33.11% the S&P500.

ProShares UltraShort QQQ seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The ETF has a market cap of $386.93 million. The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. It currently has negative earnings. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.

QID Company Profile

ProShares UltraShort QQQ (the Fund), formerly UltraShort QQQ ProShares, seeks daily investment results that correspond to twice the inverse daily performance of the NASDAQ Index-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.

More notable recent ProShares UltraShort QQQ (ETF) (NYSEARCA:QID) news were published by: Midasletter.com which released: “PODCAST: Jim Rogers is Short the NASDAQ Composite via ProShares UltraShort QQQ …” on February 14, 2016, also Etfdailynews.com with their article: “Extolling The Virtues Of QQQ [PowerShares QQQ Trust, Series 1 (ETF), ProShares …” published on November 12, 2014, Etftrends.com published: “Inverse ETFs Step into the Limelight” on January 07, 2016. More interesting news about ProShares UltraShort QQQ (ETF) (NYSEARCA:QID) were released by: Nasdaq.com and their article: “ETF Strategies for a Rising Rate Environment” published on October 06, 2016 as well as Marketwatch.com‘s news article titled: “Don’t be fooled by the rise of these ETFs in a Brexit-shaken world” with publication date: July 01, 2016.

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