taxbaby

More ProShares Ultrashorts Tomfoolery

Quite right, in fact a sizable short term capital gain, inter alia.

www.proshares.com/fund...


On Dec 31 10:04 PM sethjs wrote:

> i believe that they paid a dividend overnight.

More ProShares Ultrashorts Tomfoolery

Yes, I've had mediocre results using these as hedges in my Fidelity IRAs beginning in January 2008 but they have certainly contributed to keeping my annual loss well below the S&P's 30 something percent decline. This was, however, primarily due to a continuously managed SKFcall position closed completely by the end of October for a 100%+ overall return. (Fidelity made almost $200 in commissions on the 20+ SKF trades alone)

What has been successful though is selling (in my taxable account) way OTM calls (lopsided strangles and straddles) on EEV, FXI during expiration week. I usually had offsetting (taxable) positions in calls on SDS or other US indices including, as mentioned, the SKF.