What’s iShares MSCI Brazil Index (ETF) Upside After Today’s Bullish Options Activity?

 What's iShares MSCI Brazil Index (ETF) Upside After Today's Bullish Options Activity?

In today’s session iShares MSCI Brazil Index (ETF) (EWZ) registered an unusually high (5,000) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious EWZ increase. With 5,000 contracts traded and 1383684 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: EWZ161216C00040000 closed last at: $0.26 or 3.7% down. iShares MSCI Brazil Index (ETF) (NYSEARCA:EWZ) has risen 60.69% since March 1, 2016 and is uptrending. It has outperformed by 51.44% the S&P500.

iShares MSCI Brazil Capped Index Fund , formerly iShares MSCI Brazil Index Fund, seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the Brazilian market, as measured by the MSCI Brazil Index (the Index). The ETF has a market cap of $4.15 billion. The Index seeks to measure the performance of the Brazilian equity market. It currently has negative earnings. It is a capitalization-weighted index that aims to capture 85% of the (publicly available) total market capitalization.

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