ProShares UltraPro 3x Crude Oil ETF (OILU)

[Bountiful_Harvest]

Yes sir, this one was well-timed. High oil prices may accelerate the jpy carry unwind too...

$INDO has also been performing well the past couple days...

[Dubster watching]

Great way to trade these events. Glad to see you on my favorites
Gl

[Dubster watching]

Prophetic post!
(Attached)

[Bountiful_Harvest]

Iran's oil infrastructure will be gone soon. "Not a single drop of oil or gas will leave the Middle East if there is a war, Winter is near for Europe" - Senior official of Iraq's PMU

Israel Said Planning Massive Retaliation, Likely Targets Include Oil & Gas Rigs, Nuclear Sites.

Record Oil Bears Face Bullish Trifecta Of Mideast, China, & Liquidity...

[Bountiful_Harvest]

I bought a few shares here. Seen this earlier:

Prediction: Israel 🇮🇱 is waiting for Islamic Republic's 🇮🇷 “retaliation” to give it an excuse to destroy Iran's nuclear facilities in response.

Israel's long range bombing of Yemen (2200km distance) proved that it can easily destroy Iran's facilities too (1600km distance). pic.twitter.com/1Uye0M35Kn

— Dr. Eli David (@DrEliDavid) July 31, 2024

[Dubster watching]

Going in!
Anyone who hasn’t figured out that the middle East conflicts will charge oil up hugely probably drives a golf cart.
Fools

Gl

[Dubster watching]

Tasty price action today. $b$

[JohnCM]

Re: ProShares UltraPro 3x Crude Oil ETF (OILU)

Looks like they acted too soon in closing the fund. We could have done well last week.

True that BUT they did not want it to go to ZERO.

I have a new plan. I was going to buy NRGU at $2.00 $1.75 and $1.50 ( approximately down to $10 - $15 crude ), but our pres started talking and CRUDE ran up to $29ish. Plan foiled! I sold NRGU for a small profit.

I am now going to buy an inverse ETF ETN and ride it down to CRUDE $15.00ish. Then flip back to NRGO for the eventual ride back to $30 CRUDE.

Timeline: Sometime in June 2020.

JohnCM

[buxmaker]

Looks like they acted too soon in closing the fund. We could ha e done well last week.

[JohnCM]

I try to update these things as quickly as I can on the discussion board.

ETF ETN 1X 2X 3X

[buxmaker]

Thanks. I didn't see notice that they were closing, otherwise I would have sold.

[JohnCM]

The fund is liquidated and every share holder receives their percentage of the total balance remaining.

As an ETF loses assets, the fund will lose investors, increasing the cost of operating per investor. ... In the event a firm shuts down an ETF, investors have one of two choices: sell your position before the final trading date, or wait for the fund to close and the check to come in.

[buxmaker]

They closed the fund? Does that mean we end up with nothing?

[JohnCM]

No guesses. OK.

[NotRichYet2]

We all can speculate where the price of oil is going. GOOD bet it is still going to drop BUT that does not mean it will for sure. I, like others can easily just WAIT and see before JUMPING IN
AIMHO

[JohnCM]

What say you?

I am going with $17.00 within 2 weeks.

[NotRichYet2]

You and a few million other people

[JohnCM]

I am trying to get a feel for the bottom.

[RJ Trotts]

Thanks for the info. Enjoy your weekend.

[JohnCM]

FUND CLOSING

ETF ETN 1X 2X 3X discussion board

[JohnCM]

Do you think there are any crazies out there who are thinking of catching CRUDE near the low ( 20, 15, 10? ) and riding the next move higher?

Home > Boards > Other Markets > ETFs > NRGU Microsectors 3X BULL U.S. Big Oil ETN

All information is displayed on the ETF ETN 1X 2X 3X discussion board.

[RJ Trotts]

Nice day today. Bullish finish. Hope to see it continue tomorrow.

[RJ Trotts]

Thanks for the info, best to you!

[Noomer]

Stay away from all ProShares ETFs! They are going bankrupt

[RJ Trotts]

Agree with you. No reason for it to trade this way. Unreal.

[zen222]

Dumbest 3x ETF ever. Out at .39

[RJ Trotts]

Wondering the same thing, I want to add some shares, but I want it to reflect the oil price.

[Noomer]

Why OILU down when WTI up?????

[Noomer]

I understand they are closing this ETF but should they not still attempt 3X gains or losses. IT seems only losses last few days despite oil being green. And losses are massive. This is completely crooked in their (ProShares) favor. They should be investigated

[zen222]

No idea, I pulled the trigger and just bought though.

[Noomer]

I been trading ETFs for many months. Can someone explain why OILU is down 22% when oil is only down 1%?

[ClayTrader]

* * $OILU Video Chart 03-20-2020 * *

Link to Video - click here to watch the technical chart video

[J.T. Marlin]

Sold this morning because "CURSE OF CLAY" GLTA

[JohnCM]

SEEKING ALPHA! U.S. MAY INTERVENE IN SAUDI-RUSSIA OIL STANDOFF. WSJ.

[ClayTrader]

* * $OILU Video Chart 03-19-2020 * *

Link to Video - click here to watch the technical chart video

[RJ Trotts]

Finally an day. Nice to see. Best to all here.

[JohnCM]

That is good advice. Trade quickly. JUNG paid off in a couple days. CRUDE is tricky, but I just initiated USLV.

I have never studies put, calls, options.

[pay streak]

Yup 100%, do you think he will do that? Was going to buy here but glad I stayed away

[dude iligence]

To stabilize the price of oil, prevent us energy companies bankruptcies and maintain US energy independence all president trump needs to do is place a tariff equivalent to $55 per barrel on all OPEC oil. To make it simple any imported oil.

[Rob~daBanca]

I am gonna stay away from these ETF's. So easy to get burned and there is so many other ways to make money in a bear market.
Options have been pricey but lucrative.

[molee]

I didn't know at the time that it was closing . That's why I asked .

Thanks >> M

[Rob~daBanca]

Updated fund prospectus sent to me from my broker.
It was sent directly to any shareholder

[JohnCM]

From what I see that would leave only one ETF ETN leverage 3X BULL fund
UWT VelocityShares ETN

[JohnCM]

How did you find out??

They are closing this fund in 10 days.

[Rob~daBanca]

Why would you buy this. Its going to stop trading.
It will dive to .50 or lower in the next few days

https://www.etf.com/OILU

"The fund is closing. The last day of trading is March 27, 2020." Like most geared products, OILU is intended as a trading tool, not a buy-and-hold investment. The fund provides 3x exposure to its index for a one-day period. The daily reset function means investors holding OILU for longer periods are exposed to the effects of compounding, and could see returns that vary greatly from 3x exposure. OILU’s Bloomberg index tracks WTI crude contracts that are rolled every other month, striking a balance between spot-price sensitivity, turnover, and contango effects.As a commodity pool, OILU will issue a K-1 form at tax time. Taxable investors will pay a blended rate (60% LT/40% ST) on capital gains, realized or not. OILU provides the same exposure as sibling WTIU, which is organized as an ETN. OILD is OILU’s 3x-inverse counterpart.

[molee]

Do you happen to have a link for that info ?

Just tried to buy w / Fidelity . NO GO .

[Rob~daBanca]

$OILU. They are closing this fund in 10 days. What a joke. Worse then a penny stock.
Should be unlawfawful

[JohnCM]

I am a crude BULL with barrels under $30.00

[fumoney7]

ETF redemption = crazy bullish gains?

[fumoney7]

I took some. I made a list earlier this month about falling oil tickers. I didn't realize I bought 3x ETF. So I'm reading a bit about it and saw this:

https://www.proshares.com/3xetfs/

ProShares UltraPro and UltraPro Short ETFs offer 3x and -3x exposure to major market indexes.

Ok. So I presume the index to follow is $OIL?
And if I understand correctly, if $OIL goes up 10% this will automatically go up 30%?

Thanks.


And I see there are options for a 3x ETF? This sounds like it could be very explosive if all goes well? (not doing options, yet)