Options In ETF-FAZ Show Investors Are Betting Against Financials

Share This Article
June 17, 2009 1:57pm ETF BASIC NEWS NYSE:FAS

direxion-3xA sign of weakness as we go into the expiration of options on Friday, investors are betting against financials today in the options pit.


Mike Yamamoto from Option Monster Reports “Options traders are buying calls at various strikes and sizes in the triple-short FAZ, which is up more than 6 percent on the day to $5.21. Calls outnumber puts by more than 5 to 1, according to optionMONSTER’s Depth Charge tracking system.”

Mike Yamamoto continues saying  “Activity was heaviest at the ETF’s June 5 strike, where nearly 25,000 calls had traded only halfway through the session, most of them at or near the ask price in a strong buying pattern. Traders were also buying calls in the June 6 and July 5 contracts. ”

The ETF “FAZ”  seeks to replicate, net of expenses, 300% of the inverse daily performance of the Russell 1000 Financial Services Index The fund will invest at least 80% of assets in securities that comprise the index.

Full Story:  Here


7 Best ETFs for the NEXT Bull Market

Read Next



Free Investing Ideas Newsletter!

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

Most Popular



7 Safe Haven Dividend Stocks for Turbulent Times

Explore More from ETFDailyNews.com

Free Investment Newsletter

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories