"Hey Ray or Doc. I know this is off topic of this board, but I figured you are the guys to ask. Any idea why DGAZ did 14% today when it says in velocityshares fact sheets it tracks 3x the S&P GSCI nat gas excess return which did 7.82 % today?"
Hey Cook:
This is an easy one.
DGAZ, per se, does not necessarily track GSCI exactly but its intrinsic value does as you can see below.
Today, for some reason, DGAZ closed at a discount to its intrinsic value.
Expect the price difference to be arb'd out by 0930 mañana!
Doc
(^DGAZ-IV) -
3.44 0.66(23.74%)
(DGAZ) -NYSEArca
3.22 0.41(14.59%)
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