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India fund receives vote of confidence

Chris McKhann (chris.mckhann@optionmonster.com)

A trader sees recent gains holding for the WisdomTree India Earnings Fund in coming months.

Today's option volume in the EPI is more than 5,200 contracts, almost 10 times its total daily average. Almost all of that volume is in one print in the July 17 puts.

A trader sold 5,000 of those puts for $0.65, according to optionMONSTER's systms. Open interest in the strike was a mere 10 contracts, so is clearly a new position.

The put selling is based on the thesis that EPI will hold above $17 through that July expiration. The exchange-traded fund is up fractionally at $19.24 in early afternoon trading. It was trading at support around $17.50 three weeks ago.

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