“(NYSE: FAZ) options saw interesting call activity today. A total of 4,573 put and 24,055 call contracts were traded raising a low Put/Call volume alert. Today’s traded Put/Call ratio is 0.19. There were 5.26 calls traded for each put contract,” Leo Goldman Reports From Market Intellisearch.
Goldman goes on to report, “Put/Call ratio can be regarded as a predictor of investment sentiment, indicating what experienced investors are doing in preparation for a move of an underlying equity. A high Put/Call ratio suggests that the investor sentiment is bearish and that investors are expecting the underlying stock price to decrease. Conversely, a low Put/Call ratio implies that the investor sentiment is bullish and that investors are expecting the underlying stock price to increase. Thus, unusual volume provides reliable clues that the stock is expected to make a move.”
“Direxion Daily Finanancial Bear 3X Shares (NYSE: FAZ) closed at $11.09 in the last trading session and opened today at $11.11. (FAZ) is trading at $11.64, up $0.55 (+4.94%) in today’s trading session. The daily low is $11.10 and the high is $11.67. The trading volume of 64,673,356 is below the average volume of 70,105,400 shares. (NYSE: FAZ) is trading below the 50 day moving average and lower than the 200 day moving average. The stock’s 52 week low is $10.78 and 52 week high is $96.20,” Goldman Reports.
In a recent report, “The Select Financial Sector SPDRs (NYSE: XLF) is down 0.4%. The Direxion Financial Bull 3X fund (NYSE: FAS) is down 1.2%; its bearish counterpart, (NYSE: FAZ), is up 1.2%. Leading, active financial shares are firmer, including: (NYSE: C), -0.4%; (NYSE: GS), -0.8%; (NYSE: BAC), -0.4%,” ONN TV Reports.
Here are some more details on the Direxion Daily Financial Bear 3X ETF (NYSE:FAZ) including a snapshot of the options activity below:
Direxion Daily Financial Bear 3X Shares (FAZ)
The 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 (“Financial Index”). There is no guarantee the fund will meet its stated investment objective.
The Russell 1000® Financial Services Index is a capitalization-weighted index of companies that provide financial services. As of April 30, 2008, the Index had 227 components, derived from the Russell 1000 Index with an average market capitalization of over $11 billion dollars and a median market capitalization of $4.4 billion dollars. One cannot directly invest in an Index.
Index Sector Weightings
|Diversified Financial Services||23.84%|
|Real Estate Invt. Trusts (REITS)||11.59%|
|Financial Data & Systems||9.67%|
|Asset Mgmt. & Custodian||6.02%|
|Securities Brokerage & Svcs||3.95%|
|Banks: Svgs/Thrifts & Mort Lend||1.46%|
Data as of 12/31/2009 is subject to change at any time.
|Call Options||Expire at close Friday, May 21, 2010|
|Put Options||Expire at close Friday, May 21, 2010|