In today’s session Direxion Daily Small Cap Bear 3X Shares (TZA) registered an unusually high (134) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious TZA increase. With 134 contracts traded and 1594 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: TZA161118C00036000 closed last at: $0.64 or 20% down. The stock increased 1.59% or $0.43 on October 4, hitting $27.5. Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) has declined 45.36% since March 2, 2016 and is downtrending. It has underperformed by 54.60% the S&P500.
Direxion Daily Small Cap Bear 3X Shares seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the Russell 2000 Index (the Small Cap Index). The company has a market cap of $589.29 million. The Small Cap Index measures the performance of the small-cap segment of the United States equity universe and consists of the smallest 2,000 companies in the Russell 3000 Index, representing approximately 10% of the total market capitalization of the Russell 3000 Index. It currently has negative earnings. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.
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