ProShares Ultra Financials (UYG) is up 24 cents to $52.13 and is moving higher for the fifth time this week. UYG is on a five-day 5.6 percent winning streak and the $2.80 per share gain since Friday represents a 21.7 percent retracement of the $12.89 per share, or 20.7 percent, loss suffered from May 1 to May 18. One player in the options market doesn’t seem to expect the rally to last, as a Jun 48 – 50 put spread was apparently bought on UNG for 61 cents, 2000X on CBOE. 2141 traded total.
Category: All ETFs
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.