The options pits are rife with speculation surrounding the iShares MSCI Emerging Markets Index Fund (NYSE: EEM) this morning. Shortly after the open, the exchange-traded fund (ETF) was bombarded by heavy activity at its September 23 and 29 puts, with the September 32 and 37 calls also receiving considerable attention.
Specifically, more than 15,000 contracts traded on each of these strikes within roughly the first half hour of trading. What's more, only the September 23 put has open interest in excess of this heavy volume, with some 53,362 contracts open. Volume at the rest of the strikes pales in comparison, especially the September 37 call, which sports open interest of only 4,569 contracts.
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