Trade Cost Estimator
The fee table says 0.03%; the fill says otherwise. For a real order size, this instrument reads the tape — how much of the day’s volume you are, what the spread likely takes, and when the right move is a phone call, not a market order.
Volume & price are primary data · spread is a liquidity-band model, stated as an estimate
$107,202typical dollars traded per day
932.8%your order vs the daily tape
~35bpspread band · ≈$1,750 on this order
call a deskthe desk’s read
SAA · $1,000,000 orderLarger than a quarter of daily volume — call the issuer's capital-markets desk or use a block desk; the screen will move against you.
PROSHARES ULTRA SMALLCAP600 · LAST $32.56 · AVG VOLUME 3K SHARES · ETF LIQUIDITY IS DEEPER THAN THE SCREEN — AUTHORIZED PARTICIPANTS CAN CREATE SHARES AGAINST THE UNDERLYING BOOK, WHICH IS WHY THE ISSUER’S CAPITAL-MARKETS DESK EXISTS