Rather than XLF Puts, a FAZ long position gives you 3x leverage (Bear Financials) or SKF (2x leverage Bear Financial) of just short XLK with no leverage, but I don't think that is worth it.
The charts...
FAS 2 min (3x long Financials) intraday with a leading negative.
FAZ (the opposite of FAS) 3x short Financials with a 2 min leading positive divergence.
FAS (the 3x long Financials) leading negative.
Compared to FAZ (the 3x Short Financials ETF) with a leading positive divergence.
FAS (3x long financials) with a 15 min leading negative divergence - this is the only reason I took the position, with a 15 min chart negative, it makes it a bit more worthwhile to take the position rather than just wait for this stage to pass.
Compared to FAZ (3x short Financials) 15 min leading positive divergence.
Whether XLF Puts, SKF long or FAZ long, I think if you have the stomach for it, this is a decent opportunity, I don't blame anyone who would rather sit this phase out and wait for the larger, higher probability position that follows this, until a few minutes ago (with the exception of the UVXY position) that was my plan as well.
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