Options Activity for Direxion Daily Energy Bear 3X Shares (ERY)

Posted on 11/22/2011 by Norm Sorkin


NEW YORK (AVAFIN) -- Direxion Daily Energy Bear 3X Shares options set a new 90-day record for the number of call contracts that exchanged hands between the buyers and the sellers. Aggregate volume of puts was 1,062 and calls was 20,994 equating to a 0.05 put/call ratio.

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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. On the other hand, 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 Energy Bear 3X Shares opened yesterday at $14.00 and the stock price rose $0.69 (+5.21%) to $13.94 during the previous trading session. ERY is trading between the range of $13.73 - $14.50. Within the last week, the shares have gained 18.64% of their value.

Competitors to watch: Prospect Capital Corporation (NASDAQ: PSEC), TICC Capital (NASDAQ: TICC), The Adams Express Company (NYSE: ADX), Tortoise Energy Infrastructure (NYSE: TYG), Kayne Anderson Energy Development Company (NYSE: KED)

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