Is Direxion Daily Small Cap Bear 3X Shares a Buy? The Stock Had Bullish Options Activity Today

 Is Direxion Daily Small Cap Bear 3X Shares a Buy? The Stock Had Bullish Options Activity Today

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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