Could ProShares Trust UltraPro Short QQQ ETF See a Reversal After Today’s Strong Options Activity?

 Could ProShares Trust UltraPro Short QQQ ETF See a Reversal After Today's Strong Options Activity?

In today’s session ProShares Trust UltraPro Short QQQ ETF (SQQQ) registered an unusually high (1,405) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SQQQ increase. With 1,405 contracts traded and 9944 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SQQQ161118C00012000 closed last at: $2.4 or 20% up. About 2.84M shares traded hands. ProShares Trust UltraPro Short QQQ ETF (NASDAQ:SQQQ) has declined 18.58% since April 1, 2016 and is downtrending. It has underperformed by 19.79% the S&P500.

ProShares UltraPro Short QQQ seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The ETF has a market cap of $707.84 million. The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market. It currently has negative earnings. The Fund invests in derivatives.

More notable recent ProShares Trust UltraPro Short QQQ ETF (NASDAQ:SQQQ) news were published by: Fool.com which released: “Which Nasdaq ETF is Right for You?” on June 05, 2015, also Etfdailynews.com with their article: “The Best ETFs For A Stock Market Sell-Off” published on March 26, 2013, Benzinga.com published: “ProShares Releases 2 New Leveraged Biotech ETFs” on June 23, 2015. More interesting news about ProShares Trust UltraPro Short QQQ ETF (NASDAQ:SQQQ) were released by: Etfdailynews.com and their article: “ProShares Announces ETF Share Splits and Reverse Splits” published on January 13, 2014 as well as 247Wallst.com‘s news article titled: “CAR T-Cell Stocks a Better Way to Leverage Biotech Than New 3x ETFs” with publication date: June 25, 2015.

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