ProShares UltraPro QQQ is trading 8.5% higher today as a tentative U.S.–Iran peace agreement and the reopening of the Strait of Hormuz drive oil prices lower, easing global inflation and interest rate-hike concerns.
- Nasdaq-100 futures and broader technology and AI sectors are rebounding strongly following the geopolitical breakthrough.
- The fund’s 3x leverage on the Nasdaq-100 is amplifying the market move into an outsized intraday gain.