iShares China Fund calls lead puts nearly 3:1 as shares gain 1.9%
iShares China Fund calls lead puts nearly 3:1 as shares gain 1.9%. The ETF up 80c to $42.64 and 81K FXI Feb 43 calls have traded. Buyers also active in Mar 44 calls, where nearly 40K changed hands. Feb 41.5 calls, Apr 44 calls, and Feb 38 puts are next most active. Total volume is more than double the daily average at 298K calls and 113K puts. Shares up 12% in four weeks and testing early-December closing highs of $42.65. The big rally in 2019 comes after a 15.3% drop in 2018 and the heavy call activity Wednesday seems to express a sense of investor confidence that shares can rally further as US-China trade talks continue ahead of a March 1st deadline to reach an agreement. Meanwhile, 30-day implied volatility flat at 20.5 Wednesday and in the 26th percentile of the 52-week range.