20,000 Sep 9 puts traded on the iShares Japan Fund (EWJ) for an average of 1.5 cents ahead of the BOJ’s meeting on monetary policy. The event concludes with a statement Wednesday and some market participants believe officials will signal further easing amid strength in the yen, slowing exports, and the recent economic slowdown in the region. Sep 9 puts on EWJ are almost 4 percent out-of-the-money and will have three trading days of life remaining after the BOJ makes its announcement. Today’s flow might be closing out some of the positions opened two months ago, when 50,000 contracts were opened, traded firm-to-firm, at 21 cents per contract (see 7/16 note).
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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.