Direxion Daily NYSE FANG+ Bull 2X ETF (FNGG) Expected Move
Expected move estimates the probable price range for a given period based on at-the-money options pricing. It reflects the market consensus for volatility over the selected timeframe.
Direxion Daily NYSE FANG+ Bull 2X ETF (FNGG) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $108.7M, listed on AMEX, carrying a beta of 2.72 to the broader market. The Direxion Daily NYSE FANG+ Bull 2X ETF seeks daily investment results, before fees and expenses, of 200% of the performance of the NYSE FANG+ Index. public since 2021-09-30.
Snapshot as of May 15, 2026.
- Spot Price
- $235.76
- Expected Move
- 14.0%
- Implied High
- $268.88
- Implied Low
- $202.64
- Front DTE
- 34 days
As of May 15, 2026, Direxion Daily NYSE FANG+ Bull 2X ETF (FNGG) has an expected move of 14.05%, a one-standard-deviation implied price range of roughly $202.64 to $268.88 from the current $235.76. Expected move is derived from at-the-money straddle pricing and represents the market's pricing of a ±1σ move. Roughly 68% of outcomes should fall within this range under lognormal assumptions, though empirical markets have fatter tails.
FNGG Strategy Sizing to the Expected Move
With Direxion Daily NYSE FANG+ Bull 2X ETF pricing an expected move of 14.05% from $235.76, risk-defined strategies sized to the implied range structurally target the modal outcome distribution. Iron condors with wings at the ±1σ expected move boundaries collect premium against the ~68% probability that spot stays inside the range under lognormal assumptions; strangles set wider at ±1.5σ or ±2σ target the tails but pay smaller per-trade premium. Long-vol structures (long straddles, ratio backspreads) profit when realized move exceeds the implied move, the inverse trade: they bet against the lognormal assumption itself, capitalizing on the empirically fatter equity-return tails.
Learn how expected move is reported and how to read the data →
Per-expiration expected move for FNGG derived from ATM implied volatility at each listed expiration. Implied high/low bounds are computed as $235.76 × (1 ± expected move %). One standard-deviation range under lognormal assumptions, roughly 68% of outcomes fall inside.
| Expiration | DTE | ATM IV | Expected Move | Implied High | Implied Low |
|---|---|---|---|---|---|
| Jun 18, 2026 | 34 | 49.0% | 15.0% | $271.02 | $200.50 |
| Jul 17, 2026 | 63 | 47.6% | 19.8% | $282.38 | $189.14 |
| Oct 16, 2026 | 154 | 49.4% | 32.1% | $311.41 | $160.11 |
| Jan 15, 2027 | 245 | 48.8% | 40.0% | $330.02 | $141.50 |
Frequently asked FNGG expected move questions
- What is the current FNGG expected move?
- As of May 15, 2026, Direxion Daily NYSE FANG+ Bull 2X ETF (FNGG) has an expected move of 14.05% over the next 34 days, implying a one-standard-deviation price range of $202.64 to $268.88 from the current $235.76. The expected move is derived from at-the-money straddle pricing and represents the market consensus for a ±1σ price move.
- What does the FNGG expected move mean for traders?
- Roughly 68% of outcomes should fall within ±1 expected move and 95% within ±2 under lognormal assumptions, though equity returns have empirically fatter tails than log-normal predicts. Strategies sized to the expected move (iron condors at ±1σ, strangles at ±1.5σ) target the typical outcome distribution; strategies that profit from tail moves (long-vol structures, ratio backspreads) target the tails the lognormal model under-prices.
- How is FNGG expected move calculated?
- The expected move displayed here is derived from at-the-money implied volatility scaled to the chosen tenor: expected move % is approximately ATM IV times sqrt(T / 365), where T is days to expiration. An equivalent straddle-based form: the ATM straddle (call + put at the same strike) is roughly sqrt(2/pi) times spot times IV times sqrt(T/365), so the implied one-standard-deviation move is approximately 1.25 times ATM straddle divided by spot. The two formulations agree once the sqrt(2/pi) constant is reconciled.