Calls Purchased on the Russell 2000 (UWM)

Shares of the PROSHARES ULTRA RUSSELL 2000 ETF UWM are falling today by 3.77%, currently trading $28.33. The ETF has been selling off along with the overall market and is now breeching the 200-day moving average to the downside, which is a bearish sign. I am detecting call buying on the ETF, though, which may suggests that the ETF will find support here and move higher. The July $26, $27, & $28 call strikes have each been purchased 1,000 times today. Call volume is now running at 2.84x the daily average with 84% of all calls traded being purchases on the offer. The PROSHARES ULTRA RUSSELL 2000 seeks daily investment results, before fees and expenses, which correspond to twice the daily performance of the Russell 2000 index. The fund normally invests 80% of assets in financial instruments with economic characteristics that should be twice the return of the index. It may employ leveraged investment techniques in seeking its investment objective. The fund is nondiversified.