iShares South Korea Fund (EWY) adds 20 cents to $53.57 and one strategist seems concerned about the risks of a substantial decline in South Korea’s equity markets through yearend — a Jan 25 – 31 – 42 put butterfly spread is apparently bought on the ETF for $1.20, 2000X to open, on AMEX. The “sweet spot” of the butterfly is at $31 per share and 42.1 percent below current levels. South Korea’s Lee Myung Bak put North Korea on notice yesterday that his government is ready for a swift and powerful retaliation to any military provacation from the North.
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.