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USCF launches options trading on leveraged US oil funds

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USCF has launched options trading on the United States 3x Oil Fund (USOU) and the United States 3x Short Oil Fund (USOD) on NYSE American Options. 

Both USOU and USOD are exchange-traded products that are designed to reflect 3x and -3x, respectively, the daily price movements of West Texas Intermediate (WTI) light, sweet crude oil. Both issue shares that may be purchased and sold on the NYSE Arca. The investment objective of each of USOU and USOD is for the daily changes in percentage terms of its shares’ NAV to reflect 3x and -3x, respectively, the daily changes in percentage terms of a specified short-term futures contract on light, sweet crude oil called the “Benchmark Oil Futures Contract,” less expenses. Each fund will seek a return that is 300 per cent or -300 per cent of the return of the Benchmark Oil Futures Contract for a single day and does not seek to achieve its stated investment objective over a period of time greater than one day.
 
“We are pleased that investors will have another way to use our levered oil products in their portfolios,” says John Love, President and CEO of USCF. “We value our shareholders and appreciate that they will be able to have additional choices for investing in these products.”

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