Q: You scared me this morning in your answer to Benoit . The first line in your answer was .... " These ETFs use an ultra-short option strategy. " ..... I own QDAY and was under the impression that they used a zero day " Call " option strategy on the Nasdaq . I can find nothing on their website indicating they use any kind of " short " strategy never mind " ultra short " .... Please explain ? I am not interested in shorting the Nasdaq . If that is what it is doing it will be sold immediately .....
5i Research Answer:
Sorry for the confusion; we meant ultra short as in the expiry of the call options the ETF sells. They sell single day options, which is a short time period of course. They are not SHORT the market.