UCO Straddles April 2

With the large oil spike today, UCO calls once again became worth more than the entire straddle cost:




The calls were up +133%. Note that the actual move was 13.8%, versus max. move required of 20.10% (posted on March 30) .


UCO trading again at $9.50 puts it in the sweep spot for a 9-10 straddle:




A max. move required of 17% is relatively low for UCO.