Whenever I alert a 3x ETF, there’s almost always a very liquid options contract that you can trade instead.
I like to trade the in-the-money contracts with an expiration that’s at least 14 days out.
The table below should help you to decode the 3x ETF Symbol — to — the Underlying ETF you should use for Options Trading.
|3x ETF Alerted||What is it?||Bullish/Bearish||Underlying ETF for Options|
|UGAZ||Natural Gas||Bullish||UNG – Calls|
|DGAZ||Natural Gas||Bearish||UNG – Puts|
|UWTI||Crude Oil||Bullish||USO – Calls|
|DWTI||Crude Oil||Bearish||USO – Puts|
|TNA||Small Caps Index||Bullish||IWM – Calls|
|TZA||Small Caps Index||Bearish||IWM – Puts|
|NUGT||Gold Miners||Bullish||GDX – Calls|
|DUST||Gold Miners||Bearish||GDX – Puts|
|EDC||Emerging Markets||Bullish||EEM – Calls|
|EDZ||Emerging Markets||Bearish||EEM – Puts|