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Bullish Case: Inevitably, an increase in energy demands alongside supply constraints can propel ERY upwards. Furthermore, recent historical trends suggest potential for a short-term rally due to increased volatility and options activity, particularly around key dates.

Bearish Case: ERY faces sustained downward pressure from long-term bearish sentiment and mean-reverting behaviors. The historical return surface indicates a high likelihood of continued declines, especially as market volatility suppresses bullish momentum.

Potential Outcomes:

1. Continued decline: 60%.

2. Short-term rally: 25%.

3. Slight stabilization: 15%. These outcomes reflect historical trends and current option dynamics, alongside market interpretations of energy sector health.

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August 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. (0.94)


SCO Forecast + Options Trading Strategies   SCO  ProShares UltraShort Bloomberg Crude Oil (0.87)


SOXX Forecast + Options Trading Strategies   SOXX  BTC iShares PHLX Semicond (0.81)


IGV Forecast + Options Trading Strategies   IGV  BlackRock Institutional Trust Company N.A. - iShares Expanded Tech-Software Sector (0.79)


SIRI Forecast + Options Trading Strategies   SIRI  Sirius XM (0.78)



Uncorrelated Assets

Assets with little price relationship to ERY


AWK Forecast + Options Trading Strategies   AWK  American Water Works (-0.0)


OLED Forecast + Options Trading Strategies   OLED  Universal Display (0.0)


MELI Forecast + Options Trading Strategies   MELI  MercadoLibre (0.0)


CIM Forecast + Options Trading Strategies   CIM  Chimera Investment (0.0)


ASO Forecast + Options Trading Strategies   ASO  Academy Sports and Outdoors (-0.0)



Anticorrelated Assets

Assets that tend to move strongly against ERY


VLO Forecast + Options Trading Strategies   VLO  Valero Energy (-0.89)


SM Forecast + Options Trading Strategies   SM  SM Energy (-0.91)


ERX Forecast + Options Trading Strategies   ERX  Direxion Daily Energy Bull 2X Shares (-0.93)


VDE Forecast + Options Trading Strategies   VDE  Vanguard Group, Inc. - Vanguard Energy (-0.98)


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



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