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Alex Martinez
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  • ProShares Ultra Oil & Gas (DIG) 0 comments
    Jun 29, 2009 12:55 PM | about stocks: DIG, CVX, XOM, SLB

    If your looking into investing in an Oil & Gas ETF it is important to remember that   stocks in the total market index assigned to the oil & gas sector by the industry Classification Benchmark include major oil companies, pipelines, liquid, solid or gaseous fossil fuel producers and service companies. To achieve twice the daily performance of the Dow Jones U.S. Oil & Gas index, the fund invests in a combination of equity securities, Treasury Bills, and utilizes derivative instruments including equity swaps and index funds.

    There are Approx. 110 different stocks in the fund and the Top 10 holdings for (NYSEARCA:DIG) include 11% of assets in Djusen Swaps, 9.75%  of assets in Chevron (NYSE:CVX), 25% in ExxonMobil (NYSE:XOM) and 5% in Schlumberger (NYSE:SLB).

    Recently July 18 calls at 28 and 29 are seeing double the volume than the July 18 puts. The empirical evidence shows that the big boys are waiting for (DIG) to hit the high 20s to low 30s before they sell. Oil may have hit a high point lately and its equilibrium is likely to be between $60-$70 per barrel. 

    Stocks: DIG, CVX, XOM, SLB
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