Direxion Daily Stock Options Expiring on 28th of June
| JNUG Etf | USD 37.79 0.44 1.15% |
Direxion Daily's latest option contracts expiring on 2024-06-28 are carrying combined implied volatility of 76.99 with a put-to-call open interest ratio of 0.2 over 80 outstanding agreements suggesting investors are buying way more calls than puts on contracts expiring on 2024-06-28. The current put volume is at 4.0, with calls trading at the volume of 5.0. This yields a 0.8 put-to-call volume ratio.
Open Interest Against 2024-06-28 Option Contracts
2024-06-28
The chart above shows Direxion Daily's distribution of open interest by maturity on contracts that have not yet been settled. The area between the two highest points is the projection of the price at expiration. Direxion Daily's open interest chart also provides vital information regarding the liquidity of an option. If there is no open interest for Direxion Daily's option, there is no secondary market available for investors to trade.
Direxion Daily Maximum Pain Price across 2024-06-28 Option Contracts
Max pain usually refers to a trading concept that asserts that market manipulation can cause the market price of particular securities such as Direxion Daily close to expiration to expire worthless. According to most research, approximately 10% to 15% of all stock options are exercised, while about 35% expire worthlessly, with roughly 50% traded out before the expiration date. So, Max pain occurs when market makers reach a net positive position across all options at a strike price where option holders stand to lose the most money. By contrast, option sellers may reap the most after selling more options than buying, causing them to expire worthless.
Direxion Daily's stock options are financial instruments that give investors the right to buy or sell shares of Direxion Daily Junior common stock at a specified price for a given time period. Generally speaking, an option to purchase or sell Direxion stock makes it part of the underlying stock when the option's price is tied to the movement of the underlying stock. If Direxion Daily's stock price goes up or down, the stock options follow.
Direxion Daily Junior In The Money Call Balance
When Direxion Daily's strike price is surpassing the current stock price, the option contract against Direxion Daily Junior stock is said to be in the money. When it comes to buying Direxion Daily's options that are 'In the Money' or 'Out of the Money', the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
While 'out-of-the-money' option contracts written on Direxion Daily Junior are typically viewed as the more aggressive, there are potential upsides to purchasing these types of options contracts. For one, the cost to buy an 'Out of the Money' option is lower than the cost to buy an 'In the Money' option. This cost-benefit is due to the fact that at the time of the purchase, 'Out of the Money' contracts have no intrinsic value. So, while the potential for a 100% loss is more significant, the cost and risk to enter the trade are lower.
Direxion Current Options Market Mood
Direxion Daily's open interest and total value indicators provide investors with the necessary information to digest the overall options buildup for its expiring contracts. In addition, it helps Direxion Etf's traders understand whether a recent fall or rise in the market is unreasonable and if the time has come to take contrarian positions. These ratios are calculated based on options trading volumes and current open interest.
Put-to-Call Open Interest
Put-to-Call Volume
Most options investors, including buyers and sellers of Direxion Daily's calls and puts, are not very successful. It is estimated that an average options trader loses somewhere between 80% to 90% of the time. Direxion Daily's option open interest and volume spread between outstanding puts and calls are regarded by many investors as reliable indicators of the overall future market direction. Using current Direxion Daily's option volume and open interest to make an investment decision is considered a contrarian-sentiment measure that can be utilized in many timing strategies in both derivative and spot marketplace.
Rule 16 of the current Direxion contract
Base on the Rule 16, the options market is currently suggesting that Direxion Daily Junior will have an average daily up or down price movement of about 4.81% per day over the life of the 2024-06-28 option contract. With Direxion Daily trading at USD 37.79, that is roughly USD 1.82. If you think that the market is fully incorporating Direxion Daily's daily price movement you should consider buying Direxion Daily Junior options at the current volatility level of 76.99%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
Direxion |
Direxion Daily Option Chain
When Direxion Daily's strike price is surpassing the current stock price, the option contract against Direxion Daily Junior stock is said to be in the money. When it comes to buying options that are ITM or OTM, the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
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Direxion Daily's option chain is a display of a range of information that helps investors for ways to trade options on Direxion. In general, an option chain provides a helpful tool for investors to see all available option contracts, both puts, and calls, for Direxion. It also shows strike prices and maturity days for a Direxion Daily against a given expiration period. The table below combines all the option information in the form of a chain but before you use it, remember that it entails significant risk and it is not for everyone. | Delta | Gamma | Open Int | Expiration | Current Spread | Last Price | |||
Call | 2024-06-28 CALL at $20.0 | 0.8978 | 0.0068 | 0 | 2024-06-28 | 15.7 - 19.6 | 0.0 | In |
Call | 2024-06-28 CALL at $25.0 | 0.8561 | 0.0116 | 0 | 2024-06-28 | 10.9 - 14.7 | 0.0 | In |
Call | 2024-06-28 CALL at $28.0 | 0.8393 | 0.0172 | 0 | 2024-06-28 | 8.4 - 11.3 | 0.0 | In |
Call | 2024-06-28 CALL at $29.0 | 0.8553 | 0.0206 | 0 | 2024-06-28 | 7.1 - 9.8 | 0.0 | In |
Call | 2024-06-28 CALL at $30.0 | 0.924 | 0.0218 | 1 | 2024-06-28 | 7.2 - 9.0 | 11.28 | In |
Call | 2024-06-28 CALL at $31.0 | 0.8464 | 0.0285 | 1 | 2024-06-28 | 6.3 - 8.9 | 9.82 | In |
Call | 2024-06-28 CALL at $32.0 | 0.8167 | 0.0332 | 111 | 2024-06-28 | 5.7 - 7.8 | 13.0 | In |
Call | 2024-06-28 CALL at $33.0 | 0.7806 | 0.0381 | 0 | 2024-06-28 | 4.8 - 7.1 | 0.0 | In |
Call | 2024-06-28 CALL at $33.5 | 0.7952 | 0.0454 | 0 | 2024-06-28 | 4.6 - 5.7 | 0.0 | In |
Call | 2024-06-28 CALL at $34.0 | 0.7823 | 0.0507 | 265 | 2024-06-28 | 4.2 - 5.1 | 11.0 | In |
Call | 2024-06-28 CALL at $34.5 | 0.7525 | 0.0542 | 0 | 2024-06-28 | 4.0 - 4.6 | 0.0 | In |
Call | 2024-06-28 CALL at $35.0 | 0.6986 | 0.0499 | 0 | 2024-06-28 | 3.3 - 5.4 | 0.0 | In |
Call | 2024-06-28 CALL at $35.5 | 0.6816 | 0.0566 | 0 | 2024-06-28 | 2.5 - 5.1 | 0.0 | In |
Call | 2024-06-28 CALL at $36.0 | 0.6448 | 0.0544 | 13 | 2024-06-28 | 2.8 - 4.6 | 2.97 | In |
Call | 2024-06-28 CALL at $36.5 | 0.6263 | 0.0668 | 4 | 2024-06-28 | 1.15 - 4.8 | 2.94 | In |
Call | 2024-06-28 CALL at $37.0 | 0.5886 | 0.0616 | 0 | 2024-06-28 | 1.5 - 4.4 | 0.0 | In |
Call | 2024-06-28 CALL at $37.5 | 0.5565 | 0.0679 | 0 | 2024-06-28 | 2.3 - 2.7 | 0.0 | In |
Call | 2024-06-28 CALL at $38.0 | 0.523 | 0.0674 | 31 | 2024-06-28 | 2.05 - 2.55 | 2.03 | Out |
Call | 2024-06-28 CALL at $38.5 | 0.4926 | 0.0648 | 15 | 2024-06-28 | 1.8 - 2.55 | 2.4 | Out |
Call | 2024-06-28 CALL at $39.0 | 0.4487 | 0.0723 | 74 | 2024-06-28 | 1.7 - 2.0 | 1.7 | Out |
Call | 2024-06-28 CALL at $39.5 | 0.4391 | 0.0598 | 4 | 2024-06-28 | 1.5 - 2.4 | 2.0 | Out |
Call | 2024-06-28 CALL at $45.0 | 0.1646 | 0.0402 | 11 | 2024-06-28 | 0.3 - 0.7 | 0.45 | Out |
Put | 2024-06-28 PUT at $30.0 | -0.0834 | 0.0225 | 3 | 2024-06-28 | 0.0 - 1.2 | 0.28 | Out |
Put | 2024-06-28 PUT at $34.0 | -0.2388 | 0.0476 | 3 | 2024-06-28 | 0.85 - 1.35 | 1.0 | Out |
Put | 2024-06-28 PUT at $35.0 | -0.2966 | 0.0519 | 6 | 2024-06-28 | 1.15 - 1.6 | 1.55 | Out |
Put | 2024-06-28 PUT at $36.0 | -0.3699 | 0.0425 | 13 | 2024-06-28 | 1.5 - 3.7 | 2.15 | Out |
Put | 2024-06-28 PUT at $36.5 | -0.3885 | 0.0508 | 0 | 2024-06-28 | 1.65 - 3.0 | 0.0 | Out |
Put | 2024-06-28 PUT at $37.0 | -0.4145 | 0.0542 | 0 | 2024-06-28 | 1.45 - 3.4 | 0.0 | Out |
Put | 2024-06-28 PUT at $37.5 | -0.4396 | 0.0485 | 2 | 2024-06-28 | 2.3 - 3.8 | 0.73 | Out |
Put | 2024-06-28 PUT at $38.0 | -0.4802 | 0.0707 | 3 | 2024-06-28 | 1.35 - 3.3 | 3.25 | In |
Put | 2024-06-28 PUT at $38.5 | -0.506 | 0.0625 | 0 | 2024-06-28 | 2.0 - 3.8 | 0.0 | In |
Put | 2024-06-28 PUT at $39.0 | -0.546 | 0.068 | 3 | 2024-06-28 | 2.15 - 3.8 | 1.86 | In |
Put | 2024-06-28 PUT at $39.5 | -0.5588 | 0.0584 | 0 | 2024-06-28 | 3.5 - 3.8 | 0.0 | In |
Put | 2024-06-28 PUT at $40.0 | -0.5848 | 0.0571 | 1 | 2024-06-28 | 3.8 - 4.7 | 4.0 | In |
Put | 2024-06-28 PUT at $40.5 | -0.5861 | 0.0493 | 1 | 2024-06-28 | 4.0 - 5.5 | 1.9 | In |
Put | 2024-06-28 PUT at $41.0 | -0.5964 | 0.0458 | 0 | 2024-06-28 | 4.1 - 6.5 | 0.0 | In |
Put | 2024-06-28 PUT at $41.5 | -0.617 | 0.0451 | 0 | 2024-06-28 | 4.2 - 7.1 | 0.0 | In |
Put | 2024-06-28 PUT at $42.0 | -0.6482 | 0.0461 | 39 | 2024-06-28 | 4.2 - 7.5 | 6.1 | In |
Put | 2024-06-28 PUT at $42.5 | -0.7302 | 0.0527 | 0 | 2024-06-28 | 4.1 - 7.1 | 0.0 | In |
Put | 2024-06-28 PUT at $43.0 | -0.6791 | 0.0429 | 6 | 2024-06-28 | 5.2 - 8.2 | 6.48 | In |
Put | 2024-06-28 PUT at $43.5 | -0.7478 | 0.0462 | 0 | 2024-06-28 | 4.6 - 8.6 | 0.0 | In |
Put | 2024-06-28 PUT at $44.0 | -0.775 | 0.0447 | 12 | 2024-06-28 | 5.1 - 8.8 | 4.3 | In |
Put | 2024-06-28 PUT at $45.0 | -0.7744 | 0.0394 | 6 | 2024-06-28 | 6.0 - 10.1 | 7.9 | In |
Put | 2024-06-28 PUT at $46.0 | -0.7791 | 0.0355 | 0 | 2024-06-28 | 7.3 - 10.9 | 0.0 | In |
Put | 2024-06-28 PUT at $46.5 | -0.8097 | 0.0344 | 0 | 2024-06-28 | 7.7 - 11.1 | 0.0 | In |
Put | 2024-06-28 PUT at $47.0 | -0.8362 | 0.0327 | 3 | 2024-06-28 | 8.2 - 11.3 | 4.59 | In |
Put | 2024-06-28 PUT at $47.5 | -0.7868 | 0.0312 | 0 | 2024-06-28 | 9.7 - 11.6 | 0.0 | In |
Put | 2024-06-28 PUT at $48.0 | -0.7748 | 0.0298 | 0 | 2024-06-28 | 9.9 - 12.7 | 0.0 | In |
Put | 2024-06-28 PUT at $49.0 | -0.9291 | 0.0481 | 0 | 2024-06-28 | 9.8 - 12.9 | 0.0 | In |
Put | 2024-06-28 PUT at $50.0 | -0.8339 | 0.0261 | 0 | 2024-06-28 | 11.4 - 14.4 | 0.0 | In |
Put | 2024-06-28 PUT at $55.0 | -0.8878 | 0.0184 | 0 | 2024-06-28 | 15.7 - 19.6 | 0.0 | In |
Put | 2024-06-28 PUT at $60.0 | -0.907 | 0.0142 | 0 | 2024-06-28 | 20.6 - 24.6 | 0.0 | In |
Additional Information and Resources on Investing in Direxion Etf
When determining whether Direxion Daily Junior is a strong investment it is important to analyze Direxion Daily's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Direxion Daily's future performance. For an informed investment choice regarding Direxion Etf, refer to the following important reports:Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Direxion Daily Junior. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment. You can also try the Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
The market value of Direxion Daily Junior is measured differently than its book value, which is the value of Direxion that is recorded on the company's balance sheet. Investors also form their own opinion of Direxion Daily's value that differs from its market value or its book value, called intrinsic value, which is Direxion Daily's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Direxion Daily's market value can be influenced by many factors that don't directly affect Direxion Daily's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Direxion Daily's value and its price as these two are different measures arrived at by different means. Investors typically determine if Direxion Daily is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Direxion Daily's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.