3 Stocks I Saw on TV
Doug Kass shares his views on why energy is his largest short position.
Investors in Proshares UltraPro Short QQQ saw new options begin trading this week, for the September 18th expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 238 days until expiration the newly trading contracts represent a potential opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration.
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the ProShares UltraPro Short QQQ where we have detected an approximate $24.8 million dollar outflow -- that's a 8.4% decrease week over week (from 9,499,027 to 8,699,027). START SLIDESHOW:Click here to find out which 9 other ETFs experienced notable outflows » The chart below shows the one year price performance of SQQQ, versus its 200 day moving average: Looking at the chart above, SQQQ's low point in its 52 week range is $28.07 per share, with $66.52 as the 52 week high point — that compares with a last trade of $30.92.
The stock market made a huge intraday reversal from a huge gain on Wednesday to close lower.