TZA Short Volume
Direxion Daily Small Cap Bear 3X ETF (TZA) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $251.1M, listed on AMEX, carrying a beta of -3.69 to the broader market. The Direxion Daily Small Cap Bull and Bear 3X Shares are designed to generate daily investment outcomes, before deductions for fees and expenses, that correspond to 300% of the daily performance of the Russell 2000 Index, or 300% of its inverse. public since 2008-11-19.
Short volume measures the number of shares sold short on a given day as reported by FINRA. Tracking short volume relative to total volume helps identify unusual bearish sentiment or short-squeeze potential.
- Latest Date
- 2026-06-30
- Short Volume
- 99.1M
- Total Volume
- 164.2M
- Short %
- 60.37%
- 30-Day Avg Short %
- 49.69%
Showing 30 days of FINRA short volume data for Direxion Daily Small Cap Bear 3X ETF.
Learn how short volume is reported and how to read the data →
TZA most-active contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| PUT | $5.00 | Jul 2, 2026 | 1 | 3.6K | 957.9% | $0.78 | $1.49 |
| PUT | $4.50 | Jul 2, 2026 | 13 | 868 | 957.0% | $0.68 | $0.74 |
| CALL | $4.00 | Jul 2, 2026 | 329 | 7.2K | 808.2% | $0.02 | $0.03 |
| PUT | $4.00 | Jul 2, 2026 | 268 | 1.5K | 808.2% | $0.21 | $0.24 |
Top 4 contracts from the institutional-grade nightly options scan; ranked by volume within the broader S&P 500/400/600 + ETF universe.
Frequently asked TZA short volume questions
- What is the daily TZA short volume?
- As of Jun 30, 2026, Direxion Daily Small Cap Bear 3X ETF (TZA) short volume is 99.1M shares against 164.2M total reported volume, or 60.37% short-side. Short volume measures shares sold short during the day; it is flow, not inventory.
- How is TZA short volume reported?
- FINRA publishes the Daily Short Sale Volume File for trades reported to FINRA TRFs and the FINRA/Nasdaq ADF on a T+1 basis. The headline figure is the count of shares that printed at the short-sale or short-exempt tick across all reporting venues for the symbol; each exchange separately publishes its own daily short-sale data file.
- What does TZA short volume tell options traders?
- Daily short-sale flow is one input that helps disambiguate dealer-hedging activity from directional bear flow when the chain shows fresh customer call inventory. It is not a clean MM-only proxy: the headline number mixes directional shorting, options-MM delta-hedging, ETF-creation arbitrage, and convertible-arb hedging. Cross-check against gamma-exposure and OI changes for a cleaner read.