A Reversal for Direxion Daily Financial Bull 3X Shares Is Not Near. Professional Options Traders Are Bullish

 A Reversal for Direxion Daily Financial Bull 3X Shares Is Not Near. Professional Options Traders Are Bullish

In today’s session Direxion Daily Financial Bull 3X Shares (FAS) registered an unusually high (110) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious FAS increase. With 110 contracts traded and 1144 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: FAS161021C00029500 closed last at: $1.08 or 21.3% up. The stock increased 0.04% or $0.01 on October 4, hitting $28.57. Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) has risen 25.58% since March 2, 2016 and is uptrending. It has outperformed by 16.34% the S&P500.

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% of the price performance of the Russell 1000 Financial Services Index . The company has a market cap of $1000.00 million. The Index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large cap United States equity market. It currently has negative earnings. The Fund invests in sectors, such as banks, diversified financial services, real estate investment trust, financial data and systems, asset management and custodian, securities brokerage and services, and consumer lending.

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