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High Volume into a Stupid ETF

A lot of attention going into UUP options and price action in the etf:

Kind of reminds me of volume piling into another particular etf...

The end result being:

Am I expecting the same result? Nope. But UUP as an indicator of dollar strength, in my opinion, is not the best piece of evidence for that trade. And given the average range of the name being a whopping 0.16, it's not the most fun trade in the world. Nevertheless, I might pick up some cheapo calls to follow the herd. Maybe.

by Steven Place

Steven Place is the founder and head trader at