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发表于 2009-10-8 02:50 PM
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Options bullish on Hong Kong stocks
October 8, 2009 Thu 1:31 PM CT
Options action surged 170-fold today in the EWH Hong Kong exchange-traded fund, with most of the transactions reflecting bullish sentiment.
optionMONSTER's Heat Seeker tracking system detected the purchase of 7,500 March 17 calls on EWH for $0.66 against open interest of just 416 contracts. The fund needs to climb about 12 percent by expiration for the options to turn a profit.
The iShares MSCI Hong Kong Index Fund (EWH) rose 1.69 percent to $15.68 in afternoon trading. It's up 20 percent over the last three months, surpassing the 17 percent return of the iShares FTSE/Xinhua China 25 Index Fund (FXI), which tracks mainland Chinese shares. Hong Kong's relative strength is a break from the longer-term trend, under which the FXI typically outperforms the EWH.
Overall options volume surpassed 14,300 contracts, compared with 84 yesterday. About 50 minutes after the calls were bough, 2,672 March 18 calls were sold for $0.35, probably against an existing position in the shares.
Later in the session, we also detected an apparently bearish trade: 5,000 March 18 calls were sold for $0.35 and 2,000 March 12 puts were purchased for $0.35. Given the larger number of calls sold and the difference between the current price and the strike on the puts, the transaction probably resulted from a large owner of EWH hedging against an extreme drop rather than an outright bearish strategy.
Calls in the name outnumbered puts by six to one, according to Heat Seeker. |
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