PROSHARES ULTRAPRO SP 500 (UPRO) 141.81 -$1.27 (-0.89%) 01:19AM (15 mins delay)

New Triple ETFs Already Trading Options

Jul 08, 2009 - 5:22 PM EDT

Bill Luby submits:

Though they are less than two weeks old, the two new triple ETFs based on the S&P 500 index already have options available to trade. The bullish 3x ETF, Ultra ProShares (UPRO) has July options that expire one week from Friday with strikes from 60 to 95, including single dollar increments from 80 through 90. The bearish -3x Short ProShares (SPXU) has options available from 70 to 95, with all the strikes in single dollar increments.

In anticipation of a broad range of applications and the potential for some significant movement, the strikes for the December options range all the way from 30 to 140 for UPRO and from 40 to 150 for SPXU.

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Source: Seeking Alpha (Jul 08, 2009 - 5:22 PM EDT)