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Fas shares are a good entry here hedged with June strike 7 calls.

|Includes: Direxion Daily Financial Bull 3x Shares ETF (FAS), FAZ

Bought 8,000 shares at 8.75, and wrote 70 June strike 7 calls at 2.55/contract for an intrinsic time value of .80/share.  This purchase willbe a good hedge against the FAZ shares i have.