iShares China Large-Cap ETF (NYSE:FXI) has gained more than 3% since the start of the year.
Despite ongoing concerns in China, the flow on balance on FXI was bullish on Tuesday, according to Mike Khouw of Optimize Advisors on CNBC’s “Options Action.”
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There was a buyer of 6,000 of the June 30/35 call spreads at an average price of $1.04 per contract, Khouw mentioned.
The trader sees FXI gaining 6% within next few months.
Price Action: iShares China Large-Cap ETF fell 0.4% to $29.27 on Tuesday. Shares of Alibaba Group Holding Limited (NYSE:BABA), having a market capitalization of around $271 billion, gained 2.4% to settle at $100.72 on Tuesday.
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