Is Buying ProShares Ultra Nasdaq Biotechnology ETF Here a Winning Strategy? Option Traders Like The Stock

 Is Buying ProShares Ultra Nasdaq Biotechnology ETF Here a Winning Strategy? Option Traders Like The Stock

In today’s session ProShares Ultra Nasdaq Biotechnology ETF (BIB) registered an unusually high (249) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious BIB increase. With 249 contracts traded and 724 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: BIB161118C00049000 closed last at: $1.55 or 55% up. ProShares Ultra Nasdaq Biotechnology ETF (NASDAQ:BIB) has risen 3.69% since April 12, 2016 and is uptrending. It has underperformed by 1.30% the S&P500.

ProShares Ultra Nasdaq Biotechnology seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the Index. The ETF has a market cap of $482.05 million. The return of the Fund for a period longer than a single trading day will be the result of each day’s returns compounded over the period, which will very likely differ from the inverse of the return of the Dow Jones United States Basic Materials Index (the Index) for that period. It currently has negative earnings. The Fund does not seek to achieve its stated investment objective over a period of time greater than one day.

More notable recent ProShares Ultra Nasdaq Biotechnology ETF (NASDAQ:BIB) news were published by: Marketwatch.com which released: “ProShares Ultra Nasdaq Biotechnology” on June 06, 2010, also Etfdailynews.com with their article: “Biotech ETF Slide Likely To Continue” published on September 23, 2015, Foxbusiness.com published: “Biotech ETFs Unwind Political Risk After Trump Victory” on November 11, 2016. More interesting news about ProShares Ultra Nasdaq Biotechnology ETF (NASDAQ:BIB) were released by: Seekingalpha.com and their article: “Biotech Strategy Following Brexit: Run, Don’t Walk” published on June 27, 2016 as well as Nasdaq.com‘s news article titled: “The Zacks Analyst Blog Highlights: Valeant Pharmaceuticals International …” with publication date: September 30, 2015.

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