Replies to post #920 on ProShares Ultra Bloomberg Crude Oil 2X ETF (UCO)

[kamakiri]

No,3,000s relates to 30 contracts.It's 100s/contract.

Selling the $11 means you are willing to 'give up' or sell them at $11 if you don't close the contract(s) by expiry. Make sure you understand how that works before doing any of this! There are obligations from selling the contracts! I always close the positions.

*IF* you think it's going that low, why not buy a $#!^ ton of $11 puts instead? Just playing devils advocate here.