Brian Stutland's ProShares UltraShort S&P500 (ETF) (NYSE: SDS) trade

CNBC Options Action's Brian Stutland suggested an options strategy ahead of the options expiration on Friday. He thinks that in the market like this, it is necessary to have protection. Brian Stutland thinks that it would be a good idea to buy a call spread in ProShares UltraShort S&P500 (ETF) (NYSE: SDS). He wants to buy the September 23 call for $2.00, and sell the September 28 call for $0.65. This strategy would cost him $1.35, and if SDS goes to $28, he would make $3.65. ProShares UltraShort S&P500 (ETF) (SDS) fell 0.08% today, and it closed at $23.89.