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Options Say: Jump on This China Stock Play!

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.

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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