FAS - FAZ : 3X ETF Russell 1K Financial Services Shares Bull - Bear - Page 985

why?

anyone know what happens to the option on these things with a reverse split?

because you may be able to get them higher now, correct me if i'm wrong

its always best to get short on both of these as soon as possible. for a while i was waiting to go short when a r/s happens but then realized going short before would be better. i ended up shorting both in the 9's and if the both go 1:5 my short average will be 46's. once i am up 90% or more i will cover since it will slow in profit at that point. the closer you get to 99.999% profit the slower the gain grows. after covering i will just short again and go for 90%+ again. its almost tempting to do this with 5 or 10 blocks of cash but i am keeping it safe and just useing the one

how certain are you that FAZ is going to be a good play? And what time frame might you be looking at?

and people are misunderstanding FAZ is a 1 to 10 R/S. Look at the pdf.

the options adjust and become non-standard. they will most likely be one contract represents 20 shares instead of the standard 100 shares. when they start to issue the new leap months they will issue them standard

so what your saying a short on faz is guaranteed money over time, bc of the decay and bc the market will eventually go back up which sends faz lower?

well if your going to short just one faz would be the one to do but you can never be certain enough that it wont make a big move up. thats why you short both. cant loose.

straddle both after this R/S, swings will be very violent!!

cool, just trying to determine if siri is a better play than this.

the options will be interesting. i will buy the 2011 or 2012 puts also.

(FAZ) will effect a 1 for 10 reverse split

^from the pdf

no one said it wasnt doing a 1:10. i didnt notice anyone argueing it.

in my one message i did say my average would be in the 46's but i meant that for just fas. faz will be an average of 93's

well what the heck is wrong with me?

Man...I didn't expect the R/S to happen this soon. Anyone going to short either or both from the get go?

I might Wed/Thur - I would play FAZ for a swing or short FAS for a bit longer - let's see what the financials do over the next couple of days...

Interesting day.

I think after the sharp sell off thursday and today am we will continue slightly higher.

Probably sideways and ending uptomorrow followed by more up on wed.
I'll try to have my short positions set again by end of wed or thursday.

so up to 920-924 then down to 870-880 and down to 780-820

I'm still thinking we get the inverted head and shoulders pattern.

got to play fas today, (exited faz on thursday, should have held but oh well)

probably keep playing fas and holding slm and brcd.

Faz was up all day until the last 15 minutes.

hey let's hope it declines some so I can get in.

Is there any potential benefit to buying into FAZ or FAS before the conversion?