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Current DateTime: 04:49:25 23 Nov 2009
LinksList Documentid: 30328029
Options Say: Jump on This China Stock Play!
Published: Monday, 4 May 2009 | 2:44 PM ET
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By: Chris McKhann
writer, OptionMonster

Chinese stocks have jumped to their highest level since September, and options traders are taking short-term bullish positions in the FXI exchange traded fund.

The iShares China ETF [FXI  Loading...      ()   ] is up 8.12 percent on the session to $34.90 in Monday trading. Shares were below $23 at the beginning of March and are more than 15 percent higher than the low of last Tuesday.

Today's options action centers on the May 36 calls, where one block of 10,000 was bought at $0.60, according to OptionMonster's tracking program. This was against open interest of 1,869 contracts with only 11 days for the trade to work out.

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Options Education:

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Key National/Global ETFs:

ProShares Ultra Inverse China [FXP  Loading...      ()   ]

iShares MSCI Brazil Index [EWZ  Loading...      ()   ]

iShares MSCI Emerging Markets Index [EEM  Loading...      ()   ]

iShares MSCI Japan Index  [EWJ  Loading...      ()   ]

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Chris McKhann is an analyst and writer for OptionMonster.

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