The trade looks like a butterfly closing position after EWZ continued to move down.?
Shares of the iShares MSCI Brazil Index (EWZ) are down .47 to 20.75 today.? EWZ is near the bottom of the 52 week range.
- Paper traded 62540/156320/78150 EWZ Jun 2016 23/30/35 call spreads for .74. ?
- The ADV is 101k.?
- The OI is 68k/195k/84453 contracts.
The volume went up in many blocks on the CBOE marked spread.? The trade looks like a butterfly closing position after EWZ continued to move down.? Against this, looking open, is a 1 x 2 put spread for a credit on the Jun 18/24 strikes. The trader is opting out of the direct upside play in the fly and looking to pocket the credit in the put spread.? Check the OI tomorrow on this but the call butterfly looks closing with a less direct delta on the upside using the put spread.
- IV 30 is trading for 45%.?
- HV10 is trading for 38%.?
- IV 30 is trading above the HV 10.
Shares MSCI Brazil Capped Index Fund (the 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).