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Bullish On TZA? You Might Want To Consider This Credit Put Spread Expiring in 5 Days
Market Chameleon (Thu, 10-Apr 10:33 AM ET)
The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the Russell 2000 Index (the "Index"). The Index measures the performance of approximately 2,000 small-capitalization companies in the Russell 3000 Index, based on a combination of their market capitalization and current index membership. The Fund, under normal circumstances, invests at least 80% of the Fund's net assets (plus borrowing for investment purposes) in financial instruments, including swap agreements, futures contracts, or short positions, that, in combination, provide 3X daily inverse (opposite) or short exposure to the Index or to exchange-traded funds ("ETFs") that track the Index, consistent with the Fund's investment objective. The financial instruments in which the Fund most commonly invests are swap agreements and futures agreements which are intended to produce economically inverse leveraged investment results.
Direxion Daily Small Cap Bear 3X ETF trades on the ARCA stock market under the symbol TZA.
As of September 11, 2026, TZA stock price declined to $42.60 with 3,084,740 million shares trading.
TZA has a beta of -2.88, meaning it tends to be less sensitive to market movements. TZA has a correlation of 0.55 to the broad based SPY ETF.
TZA has a market cap of $250.57 million. This is considered a Small Cap stock.
In the last 3 years, TZA traded as high as $402.20 and as low as $36.33.
TZA has underperformed the market in the last year with a return of -50.1%, while the SPY ETF gained +18.5%. In the last 3 month period, TZA fell short of the market, returning -8.2%, while SPY returned +5.8%. However, in the most recent 2 weeks TZA has outperformed the stock market by returning +11.1%, while SPY returned -0.7%.
TZA support price is $42.40 and resistance is $44.39 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TZA shares will trade within this expected range on the day.
