UCO Surges 130% YTD to ~$47; Analysts Eye Double Amid Endless Iran War

ProShares Ultra Bloomberg Crude Oil (UCO) has rocketed 130% YTD, capturing 2x leveraged gains from WTI's 90% rally from $57 in January to $115 in April, with analysts predicting it could double again if Middle East tensions escalate. This builds on the May 5 launch of USO May 20, 2026 options amid elevated IVs (~77-78%), followed by May 6 analyses spotlighting USO (+108% to $144), BNO (+105% to $58), and XOP (+44% to $181) as top oil ETF picks driven by WTI/Brent peaks at $115/$138. UCO is positioned as a high-risk tactical play for short-term geopolitical shocks, contrasting unleveraged peers.