ProShares UltraPro 3x Crude Oil ETF (OILU)

[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)