Floor seen under Europe-Asia fund
Chris McKhann | [email protected]
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)