Shares of iShares MSCI Australia Fund (EWA) are up .15 to 26.65 today.? EWA is trading near the top of the 52 Week range.

Today paper traded 2000 EWA Jul 25 puts at .20 and 1000 EWA Jul 26 calls for .84. ?The ADV is 1021 contracts.? The OI is 799.

The volume went up in two blocks.? The trade is probably an unwinding of an existing collar trade as EWA is shooting for new highs.? Check the OI tomorrow but there was probably a long underlying position against this.

?30-day implied volatility is 13%.?? 10-day implied volatility is 13%.? 30 day implied volatility is trading at the 10 Day Historical volatility.

Shares MSCI Australia ETF (the Fund), formerly iShares MSCI Australia Index Fund, is an exchange-traded fund (ETF).?