A huge call sale is looking for a limited bounce in the iShares Mexico Fund.
optionMONSTER systems show that a trader sold 10,000 EWW November 66 calls for the bid price of $0.37. This is a new position, as previous open interest was 1,197 contracts.
There was no corresponding trading in the underlying shares, so this could be a naked call sale with an initial bearish bias. Alternatively, the options could have been sold against an existing long position in a covered-call strategy , which would be bullish up the the $66 strike price but not beyond. (See our Education section)
The EWW is up 0.52 percent to $64.14 in early afternoon trading. The exchange-traded fund was up near $67 last week but does have resistance around that level.
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