Could Direxion Daily Financial Bear 3X Shares See a Reversal After Today’s Strong Options Activity?

 Could Direxion Daily Financial Bear 3X Shares See a Reversal After Today's Strong Options Activity?

In today’s session Direxion Daily Financial Bear 3X Shares (FAZ) recorded an unusually high (321) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious FAZ decrease. With 321 contracts traded and 154 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: FAZ161118P00027000 closed last at: $1.09 or 336% up. Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) has declined 37.64% since April 12, 2016 and is downtrending. It has underperformed by 42.62% the S&P500.

Direxion Daily Financial Bear 3x Shares seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the price performance of the Russell 1000 Financial Services Index (the Index). The company has a market cap of $251.74 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.

More notable recent Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) news were published by: Marketwatch.com which released: “Direxion Daily Financial Bear 3x Shares” on December 22, 2009, also Quotes.Wsj.com with their article: “DOW JONES, A NEWS CORP COMPANY” published on March 20, 2015, Etfdailynews.com published: “Direxion Announces Reverse Share Splits Of Six Leveraged ETFs” on August 10, 2015. More interesting news about Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) were released by: Etftrends.com and their article: “Direxion to Shutter Five Leveraged Bear ETFs” published on September 03, 2014 as well as Etftrends.com‘s news article titled: “Some Traders are Getting Crushed by Leveraged Gold Miners ETFs” with publication date: July 20, 2015.

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