Confidence runs high in China fund
Traders see little downside risk in the iShares China Fund, even as it approaches 52-week highs.
More than 8,000 January 41.50 puts were sold, mostly for $0.93, eclipsing the open interest of 142 contracts. That means a new position was initiated.
He or she is betting the fund will hold remain above the strike price during the next three weeks. They take the risk of having to buy shares if they are below the strike, but will keep the premium as profit above it. See our Education section for more on the strategy.
FXI rose 0.14 percent to $41.74 in morning trading, and is near the September highs just above $42. The fund bounced at support around $39 in mid-December.
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