Calls Purchased on the Short Dow ETF (DOG)

Shares of the ProShares Short Dow30 ETF DOG are higher on the session by 2.38%, currently trading at $53.35. The stock has been trading largely higher over the past two months as the overall market falters. Options traders are betting on further upside as well. The July $51 call was purchased 1,000 times, on the offer, on open interest of 1,663 contracts and the July $52 call was purchased, on the offer, 1,000 times on open interest of 3,670 contracts. Call volume is now running at 2.56x the daily average. The ProShares Short Dow30 ETF seeks daily investment results, before fees and expenses, that correspond to the inverse of the daily performance of the Dow Jones Industrial Average index. The fund invests in derivatives that advisors believe should have similar daily performance characteristics as the inverse of the daily return of the Index. It invests typically the rest of the assets in money market instruments.