ProShares UltraShort Financials ETF (SKF) Trade Closed

Today we closed speculative trade on the September 2009 series Call Options (FFWID) at a Strike price of $30.00 for $1.00 per contract on ProShares UltraShort Financials (ETF) whose symbol is SKF.

We have held this position since the 19th August 2009 however the market has moved against us with the financial sector making gains on a daily basis causing SKF to devalue.

We will keep SKF on the watch list with the intention of re-evaluating the broader markets and possibly returning at a later date to try again.

Your thoughts are of course most welcome.

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