Smart money activity in the past 24 hours that is out of the ordinary. It includes stock options bought on the ask or sold on the bid with unusual size and daily volume compared to open interest.
The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Russell 2000® Index. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund's net assets (plus borrowing for investment purposes). The index measures the performance of approximately 2,000 small-capitalization companies in the Russell 3000® Index, based on a combination of their market capitalization and current index membership. It is non-diversified.
Call trades that are bought on or above the market's asking price OR put trades that are sold on or less than the market's bid price - expecting a move to the updside.