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March 13, 2013  Wed 10:18 AM CT

EWW: SEE CHART GET CHAIN FIND STRATEGIES
A call strategy is looking for range-bound trading in the iShares Mexico Investable Market Index Fund.

A trader bought 3,500 June 73 calls for $2.32 and sold 3,500 March 73 calls for $0.32, according to optionMONSTER systems. These are clearly new positions, as the volume at each strike was multiples of the previous open interest.

This is a calendar spread that cost $2 to open, which is the maximum risk up to the first expiration. The trader is looking to take advantage of the accelerating time decay of those nearer-term options, which expire at the end of this week. (See our Education section)

The EWW is down 0.83 percent to $72.68 today. The exchange-traded fund hit an all-time high of $75 on the first day of February and bounced off support at $70 at the end of that month.
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