After a pullback recently for international stocks, the bulls
are going global again.
optionMONSTER's Heat Seeker monitoring program has detected a
series of upside trades in recent sessions as investors target
Russia and Korea in particular. It started on Wednesday when the
Market Vectors Russia ETF
lit up with
in the December 29 calls. The next day Russian Internet company
saw buying in its December 38 calls, and Friday brought a
iShares MSCI South Korea Fund
Russian steel maker
and Brazilian airline Gol Linhas Aereas have also attracted bullish
International stocks lagged the S&P 500 between mid-2011 and
mid-2013 as European sovereigns grappled with debt problems and
China slowed its economy. They started running higher over the
summer but have lagged in the last month. In recent sessions they
have begun to outperform again.
The China Large Cap ETF was the biggest mover overall on Friday,
surging more than 4 percent after policymakers pledged to increase
private investment. The FXI also saw heavy option action, with
calls outnumbering puts by more than 2 to 1. Those puts that did
trade were mostly
, which is bullish as well. (See our
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