Options traders made huge bets on Brazil, taking the iShares MSCI Brazil ETF (NYSE:EWZ) slightly lower on Thursday.
On CNBC’s “Options Action,” Mike Khouw of Optimize Advisors said the iShares MSCI Brazil ETF was always one of the busier ones and was also the 9th busiest ETF option on Thursday. Calls traded well above the average volume during the session.
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There was a buyer of 2,000 of 18,000 September 34/39-call spreads at an average price of 57 cents per contract, Khouw said.
The trader expects the iShares MSCI Brazil ETF to surge 18% to 34% by September expiration.
Meta Platforms, Inc. (NASDAQ:META) CEO, Mark Zuckerberg, recently disclosed that the company is rolling out WhatsApp Payments in Brazil.
Price Action: Shares of EWZ fell 0.2% to settle at $29.32 on Thursday.
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