Trader bets big on emerging markets

Options Action: A bullish call on emerging markets

Emerging markets are surging, and that has one trader doubling down on the group of stocks.

In an eyebrow-raising wager on Monday, someone purchased 55,000 September 38-calls for 27 cents each in the emerging markets ETF, EEM. Since each call option accounts for 100 shares of stock, this is a nearly $15 million bet that the EEM will rise above $38.27 by September expiration.