Bullish option positions opened in the middle of September in the iShares MSCI Brazil Fund (EWZ – Get Report) have tripled as investors take on a bullish outlook for the future of the Brazilian economy.
On September 18, Investitute’s tracking systems showed that 25,000 November $37 calls were purchased for $1.29 to $1.30 as part of a bullish spread, with shares at $32.31. The trade was below open interest as of the market’s open that day, however previous trading volumes accounted for by Investitute’s market scanners proved this to be a new position.
These investors may have believed that the stock of EWZ had recently made a bullish double-bottom technical chart pattern, as well has had the foresight to…
