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October 4, 2012  Thu 10:41 AM CT

EFA: SEE CHART GET CHAIN FIND STRATEGIES
The iShares EAFE Index Fund has been drifting lower, but one large trade is betting against a collapse in the next year.

The exchange-traded fund, which tracks stock in Europe and Asia, is up 0.9 percent at $53.91 this morning. The EFA has been trending lower since trading up to $55.58 on Sept. 14, its highest price since reaching a 52-week high in March.

optionMONSTER's systems detected the sale of 10,000 September 2013 40 puts for the bid price of $1.29. Open interest in the strike was just 425 contracts at the beginning of the day, so this is a new position.

The put selling has an initial bullish bias but can profit with the EFA anywhere above $40 at expiration about a year from now. (See our Education section)
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