Direxion Daily Financial Bear 3X Shares (FAZ)

[Porgie Tirebiter]

Last time FAZ traded around $37.00 was at the end of October, and the RIFIN was above 760.

Today the RIFIN is at 725.

So FAZ has experienced a deterioration of just over 5% in value in just under two months.

I'm calculating that a return in RIFIN to the 200 day moving average would put FAZ at about $33.00.

I have some January 50 puts which I picked up for a hedged play last fall. When I sold the FAZ, the puts were so under water they weren't worth selling. But at FAZ $33, they will be Monsters!!