Mixed Call Trading on Short Dow ETF (DOG)

Shares of the Proshares Short Dow 30 (NYSE: DOG) are higher on the session by 0.14%, currently trading at $49.24. The ETF has been moving largely lower over the past couple of weeks as stocks rise. Options traders are both buying and selling calls on the name today. The September $50 call was purchased 1,000 times, on the offer, on open interest of 55 contracts and the August $50/51 call spread was sold 1,000 times. Volume exceeded open interest on the $50 strike, but not on the $51 strike. Call volume is now running at 3.07x the daily average. The Proshares Short Dow 30 seeks daily investment results, before fees and expenses, which 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. The fund is nondiversified.