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 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.
- Options Tips from Jon Najarian
- Read The CNBC Stock Blog
- Options Tips from Pete Najarian
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
iShares MSCI Brazil Index
iShares MSCI Emerging Markets Index
iShares MSCI Japan Index
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Chris McKhann is an analyst and writer for OptionMonster.
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