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ERY Forecast + Trading Strategies


Bullish Case: A bullish case can be strengthened by recent increases in call option volumes, signaling market confidence. Additionally, volatility remains high, positioning ERY for potential short-term rallies as energy prices fluctuate due to geopolitical events.



Bearish Case: Market conditions indicate a bearish outlook as historical price trends show a consistent decline, compounded by high implied volatility suggesting investor uncertainty and potential for further downside pressure on ERY prices.



Potential Outcomes:
  1. Continued decline: 50% probability, driven by persistent negative market sentiment.
  2. Short-term rally: 30% probability, spurred by volatility and energy price fluctuations.
  3. Moderate stabilization: 20% probability, as market correction leads to a temporary balance in trading.



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November 17, 2024


Direxion Daily Energy Bear 2X Shares Forecast

ERY        Direxion Daily Energy Bear 2X Shares

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Correlated Assets

Assets that tend to move strongly with ERY


DRIP Forecast + Options Trading Strategies   DRIP  Direxion Daily S&P Oil & Gas Exp. & Prod. (0.87)


SCO Forecast + Options Trading Strategies   SCO  ProShares UltraShort Bloomberg Crude Oil (0.78)


CNXC Forecast + Options Trading Strategies   CNXC  Concentrix (0.75)


TU Forecast + Options Trading Strategies   TU  Telus (0.75)


ADBE Forecast + Options Trading Strategies   ADBE  Adobe (0.75)



Uncorrelated Assets

Assets with little price relationship to ERY


PLAY Forecast + Options Trading Strategies   PLAY  Dave & Buster's Entertainment (-0.0)


RIG Forecast + Options Trading Strategies   RIG  Transocean (0.0)


RCUS Forecast + Options Trading Strategies   RCUS  Arcus Biosciences (-0.0)


CLX Forecast + Options Trading Strategies   CLX  Clorox (-0.0)


BCRX Forecast + Options Trading Strategies   BCRX  Biocryst Pharmaceuticals (-0.0)



Anticorrelated Assets

Assets that tend to move strongly against ERY


FANG Forecast + Options Trading Strategies   FANG  Diamondback Energy (-0.85)


NOG Forecast + Options Trading Strategies   NOG  Northern Oil and Gas (-0.86)


AL Forecast + Options Trading Strategies   AL  Air Lease Corp (-0.86)


EOG Forecast + Options Trading Strategies   EOG  EOG Resources (-0.88)


XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (-0.98)







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