it was to trade, not hedge. skf would have worked too then. but I trade FAS long and short because of its volatility.
I know you should have bought FAZ as a hedge Cause everyone know,s it has to come down after a long bull run like that
FAZ = -1 x FAS intraday SKF = -2/3 x FAS intraday If you want the same volatility, just buy more shares. I don't understand the need to short FAS for a day trade.
I should not have assumed you were hedging. I should have said buying FAZ is roughly the same as shorting FAS. It's hard to short TNA sometimes too, so I buy TZA when needed.