Calls Bets this DOG has Further to Run (DOG)

Shares of the PROSHARES SHORT DOW 30 ETF (NYSE:

) are higher on the session by 1.34%, currently trading $53.57. The ETF has begun to rally as the market has begun to sell of as of late. The ETF is trading between the 50-day and 200-day moving averages. I am seeing call buying on the ETF, which suggests that the overall market has further to drop. The June $52 and $53 calls were each purchased over 2,500 times. Call volume on the ETF is running at 4.67x the daily average with 81% of all calls traded being purchases on the offer. The PROSHARES SHORT DOW 30 ETF seeks daily investment results, before fees and expenses, which correspond to the inverse of the daily performance of the Dow Jones Industrial Average index.