DUST Forecast



Bearish<—>Bullish



80% Confidence




Bullish Case: Strong implied volatility and backwardation suggest potential near-term upswing if gold prices drop or volatility peaks.




Bearish Case: DUST's historical mean reversion and heightened implied volatility warn of significant downside risks, especially if gold stabilizes.




Potential Outcomes:

1. Further decline to $25 (40%): Stabilizing gold prices.

2. Short-term rally to $35 (30%): Volatility spike.

3. Range between $28-$30 (30%).



May 21, 2025


Direxion Daily Gold Miners Index Bear 2X S Forecast

DUST        Direxion Daily Gold Miners Index Bear 2X S











Correlated Assets

Assets that tend to move strongly with DUST



FCEL Forecast + Options Trading Strategies   FCEL  Fuelcell Energy (0.83)


VTRS Forecast + Options Trading Strategies   VTRS  Viatris (0.76)


WHD Forecast + Options Trading Strategies   WHD  Cactus (0.63)


IRM Forecast + Options Trading Strategies   IRM  Iron Mountain (0.62)


DXC Forecast + Options Trading Strategies   DXC  DXC Technology (0.62)



Uncorrelated Assets

Assets with little price relationship to DUST



DFEN Forecast + Options Trading Strategies   DFEN  Direxion Daily Aerospace & Defense Bull 3X Shares (-0.0)


ULTA Forecast + Options Trading Strategies   ULTA  Ulta Beauty (0.01)


NVO Forecast + Options Trading Strategies   NVO  Novo Nordisk (0.01)


HCC Forecast + Options Trading Strategies   HCC  Warrior Met Coal (0.01)


CVE Forecast + Options Trading Strategies   CVE  Cenovus Energy (0.02)



Anticorrelated Assets

Assets that tend to move strongly against DUST



EWW Forecast + Options Trading Strategies   EWW  iShares MSCI Mexico (-0.62)


SAN Forecast + Options Trading Strategies   SAN  Banco Santander (-0.62)


FEZ Forecast + Options Trading Strategies   FEZ  SPDR EURO Stoxx 50 (-0.68)


ETR Forecast + Options Trading Strategies   ETR  Entergy (-0.71)


ACMR Forecast + Options Trading Strategies   ACMR  ACM Research (-0.72)









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