Paper bought 7000 EWZ Feb 18/20 put spreads for .36.
iShares MSCI Brazil Index ETF trading 21.70 with an IV30 of 38.15 and an HV10 of 35.5 saw a put spread trade.? The ETF with an ADV of 107,800 and OI of 3.9 million saw a customer buy 7000 of the Feb 18/20 put spreads.? The customer bought 7k of the Feb 20 puts for .59 and sold 7k of the 18 puts at .23.? all told he or she paid .36 for a 2 point vertical.
Based on the OI this could be a close or an open, although it lines up as a close.? Either way the trader believes that the underlying is likely to retest 20 between now and the middle of February.?
This trade should be considered bullish volatility and bearish EWZ.