Daily Performance Report for SSO ETF: Nov 21, 2024
Summary: The day started with SSO ETF opening at $94.4 and closing at $93.6. The ETF showed weakness throughout the day, with the highest price observed at $94.4 and the lowest at $93.43. The underlying asset had a trading range of $0.97 Overall, it was a negative trading day for SSO ETF, reflecting investor pessimism and market activity.
Change in Closing Price: There was a net decrease of $-0.80 or -0.85% in the closing price from the opening to the closing price over the day.
Volume Analysis: Trading volume for SSO ETF was 14,123 units during Nov 21, 2024, indicating active market participation and investor interest.
Opening Price: The day started at $94.4.
Highest Price: The highest price observed during the day was $94.4.
Lowest Price: The lowest price observed during the day was $93.43.
Closing Price: The day ended at $93.6.
Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.
1.66%
Represents the percentage change in asset value over the past month.
9.18%
Indicates the percentage change in asset value over the last three months.
16.70%
The highest percentage drop from the peak value to the lowest point during the observed period.
24.99%
Shows how much the asset’s daily returns deviate from the average, annualized for the entire period.
1.85
Measures the average return earned in excess of the risk-free rate per unit of volatility, annualized.
2.76
The ratio of the annualized return to the maximum drawdown, reflecting the return per unit of risk.
Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.
Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:
Type/Period | |
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SMA | |
EMA | |
WMA | |
WEMA |
Pivot Points are used to determine potential support and resistance levels. Here’s a breakdown of the latest Pivot Points for various methods:
Type | S3 | S2 | S1 | PIVOT | R1 | R2 | R3 |
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Technical Indicators are tools used to analyze market trends and make predictions. Here’s a summary of some key indicators:
Indicator | Value | Details |
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Candlestick patterns are crucial in technical analysis, providing visual insights into market sentiment and potential price movements. This section analyzes various candlestick patterns over a specified range of recent candles to identify any significant formations that might indicate future market trends. Each pattern is evaluated based on the latest candle data to determine if it matches known patterns of bullish or bearish signals.
The tool utilizes real-time price data to scan for these patterns, displaying results with timestamps to help understand the context of each detected pattern.
Timestamp | Pattern | Found |
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Pattern | Support |
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This section provides a detailed overview of historical price data for the selected asset. The table below captures key metrics such as open, high, low, and close prices as well as volume and vwap for each trading period. Analyzing historical prices helps in understanding past market trends and volatility, enabling better-informed decisions for future trading strategies.
Timestamp | Open | High | Low | Close | Volume | VWAP | Change |
---|---|---|---|---|---|---|---|
11/20/2024 08:00 PM | 93.43 | 94.50 | 93.37 | 94.43 | 592,966 | 94.15 | +1.00 +1.07% |
11/20/2024 07:00 PM | 93.19 | 93.57 | 93.05 | 93.45 | 86,979 | 93.25 | +0.26 +0.28% |
11/20/2024 06:00 PM | 93.33 | 93.50 | 93.03 | 93.24 | 123,184 | 93.32 | -0.09 -0.10% |
11/20/2024 05:00 PM | 93.74 | 93.80 | 93.03 | 93.33 | 174,552 | 93.48 | -0.41 -0.44% |
11/20/2024 04:00 PM | 93.42 | 93.83 | 92.84 | 93.73 | 306,443 | 93.34 | +0.31 +0.33% |
11/20/2024 03:00 PM | 93.43 | 93.65 | 92.53 | 93.41 | 551,376 | 93.09 | -0.02 -0.02% |
11/19/2024 08:00 PM | 94.15 | 94.46 | 94.07 | 94.36 | 329,274 | 94.27 | +0.21 +0.22% |
11/19/2024 07:00 PM | 94.56 | 94.58 | 93.98 | 94.16 | 366,200 | 94.21 | -0.40 -0.42% |
11/19/2024 06:00 PM | 93.99 | 94.60 | 93.88 | 94.56 | 213,254 | 94.22 | +0.57 +0.61% |
11/19/2024 05:00 PM | 93.89 | 94.11 | 93.66 | 94.00 | 108,254 | 93.90 | +0.11 +0.12% |
11/19/2024 04:00 PM | 93.53 | 94.02 | 93.53 | 93.90 | 209,284 | 93.75 | +0.37 +0.40% |
11/19/2024 03:00 PM | 92.75 | 93.65 | 92.59 | 93.58 | 223,826 | 93.02 | +0.83 +0.89% |
11/18/2024 08:00 PM | 93.66 | 93.78 | 93.49 | 93.70 | 325,050 | 93.66 | +0.04 +0.04% |
11/18/2024 07:00 PM | 93.76 | 93.76 | 93.37 | 93.68 | 118,841 | 93.55 | -0.08 -0.09% |
11/18/2024 06:00 PM | 93.85 | 93.85 | 93.34 | 93.76 | 115,540 | 93.62 | -0.09 -0.10% |
11/18/2024 05:00 PM | 93.74 | 93.87 | 93.57 | 93.87 | 307,459 | 93.79 | +0.13 +0.14% |
11/18/2024 04:00 PM | 93.73 | 94.13 | 93.67 | 93.75 | 276,090 | 93.84 | +0.02 +0.02% |
11/18/2024 03:00 PM | 92.95 | 93.76 | 92.89 | 93.71 | 288,170 | 93.41 | +0.76 +0.82% |
11/15/2024 08:00 PM | 92.70 | 93.11 | 92.63 | 92.93 | 366,418 | 92.88 | +0.23 +0.25% |
11/15/2024 07:00 PM | 92.53 | 92.96 | 92.41 | 92.70 | 267,767 | 92.64 | +0.17 +0.18% |
11/15/2024 06:00 PM | 92.85 | 92.92 | 92.35 | 92.53 | 289,104 | 92.70 | -0.32 -0.34% |
11/15/2024 05:00 PM | 92.95 | 93.00 | 92.60 | 92.86 | 253,380 | 92.80 | -0.09 -0.10% |
11/15/2024 04:00 PM | 93.16 | 93.48 | 92.87 | 92.93 | 373,863 | 93.19 | -0.23 -0.25% |
11/15/2024 03:00 PM | 93.90 | 93.90 | 93.04 | 93.18 | 557,129 | 93.43 | -0.72 -0.77% |
11/14/2024 08:00 PM | 96.06 | 96.06 | 95.22 | 95.46 | 817,866 | 95.47 | -0.60 -0.62% |
11/14/2024 07:00 PM | 95.61 | 96.24 | 95.61 | 96.05 | 145,540 | 96.01 | +0.44 +0.46% |
11/14/2024 06:00 PM | 95.95 | 96.22 | 95.58 | 95.63 | 149,805 | 95.95 | -0.32 -0.33% |
11/14/2024 05:00 PM | 96.19 | 96.26 | 95.58 | 96.01 | 288,069 | 95.88 | -0.18 -0.19% |
11/14/2024 04:00 PM | 96.36 | 96.60 | 96.16 | 96.21 | 129,704 | 96.36 | -0.15 -0.16% |
11/14/2024 03:00 PM | 96.43 | 96.61 | 96.03 | 96.35 | 328,948 | 96.34 | -0.08 -0.08% |
11/13/2024 08:00 PM | 96.71 | 97.12 | 96.49 | 96.71 | 471,556 | 96.80 | 0.00 0.00% |
11/13/2024 07:00 PM | 97.26 | 97.27 | 96.66 | 96.72 | 223,344 | 97.01 | -0.54 -0.56% |
11/13/2024 06:00 PM | 97.35 | 97.37 | 97.09 | 97.26 | 99,376 | 97.24 | -0.09 -0.09% |
11/13/2024 05:00 PM | 96.99 | 97.35 | 96.95 | 97.33 | 105,305 | 97.15 | +0.34 +0.35% |
11/13/2024 04:00 PM | 96.70 | 97.05 | 96.56 | 97.02 | 119,609 | 96.86 | +0.32 +0.33% |
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Experience Excellence NowRisks associated with SSO include leverage risk, market risk, and tracking error. Leverage can magnify both gains and losses, making the ETF more volatile. Daily rebalancing and compounding effects can cause performance deviations from the intended 2x return over longer periods.
Investors can purchase shares of SSO through a brokerage account, just like other stocks and ETFs. It is traded on the New York Stock Exchange (NYSE) under the ticker symbol "SSO."
SSO aims to deliver twice the daily return of the S&P 500 Index. Over short periods, SSO can achieve this goal, but due to the daily rebalancing and compounding effects, the performance over longer periods can deviate significantly from twice the cumulative return of the S&P 500 Index. The leveraged nature of the fund can result in increased volatility and risk.
Yes, SSO can be held in retirement accounts such as IRAs or 401(k)s. However, investors should consider their investment goals and risk tolerance due to the leveraged nature and volatility of the fund.
The historical performance of SSO reflects its objective to achieve twice the daily return of the S&P 500 Index. Over short periods, it closely tracks twice the daily return, but long-term performance may vary due to the effects of daily rebalancing and compounding.
SSO is managed by ProShares. The fund employs leverage to attempt to achieve twice the daily return of the S&P 500 Index. This is done using financial instruments such as futures contracts and swaps. The ETF is rebalanced daily to maintain the 2x leverage ratio.
Factors affecting SSO’s performance include market conditions, changes in the S&P 500 Index, and the effects of leverage and daily rebalancing. Volatility and compounding effects can lead to performance deviations from the expected 2x return over longer periods.
Key performance metrics for SSO include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely SSO matches the 2x return objective of the S&P 500 Index.
SSO distributes dividends on a quarterly basis. These dividends are derived from the income generated by the underlying securities in the fund's portfolio, adjusted for the ETF's leveraged position.
SSO differs from other leveraged ETFs in that it specifically targets twice the daily return of the S&P 500 Index. Other leveraged ETFs may focus on different indices or provide varying levels of leverage, such as 3x leverage, and may have different underlying asset strategies.
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