As the market began to fade on Friday, there were a coupe of large option trades on the iShares MSCI Japan ETF (NYSEARCA: EWJ). Just as the ETF was testing its 2020 high, it appears that the options market is beginning to turn bearish through some sizable long put trades. The activity comes at a time when equity markets historically struggle and as stimulus appears to be waning before the election. EWJ broke through a resistance area near $58.80 last week as the price tested it’s 52-week high near $60. EWJ has found itself outperforming the S&P 500 index over the past three weeks as...
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