With most asset classes getting pummeled this past week, investors are seeking the relative safety of the US dollar. One method to get bullish exposure to the dollar is through Invesco DB US Dollar Index Bullish ETF (UUP). UUP is a fund that is long the dollar versus a basket of other major currencies.
Typically, UUP doesn’t move all that much, but it has gone from $26 to as high as $29 this past week after sitting in about $1 range for most of the year. One trader sold the 27.5 puts expiring in two weeks, which generates a 1.6% yield over that short period.
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