Alert: Trade Open – FAS

Ticker: FAS
Price: $68.50
Date: 7/17/23 11:50 am
Underlying: Direxion Daily Financial Bull 3x ETF

Master Portfolio Contracts: 10


Due to the market running in 1 direction and VIX being low, we are looking at some of the leveraged ETFs as alternatives to trade. We have traded TQQQ and FAS in 5K before. We are also taking advantage of some counter-trend moves with this trade. 
Cost about $5200 for 10 contracts. 
The idea of this trade is not to roll it, we will close it and reset it as market conditions allow. 

Trade Detail 1: Open diagonal spread for a net debit of around 6.15 – 6.40

BTO FAS 1 SEP 63 call
STO FAS 21 JUL 68 call

Position after trade detail:

+10 FAS 1 SEP 63 call
-10 FAS 21 JUL 68 call