Dan Nathan Sees Unusal Options Activity In iShares MSCI United Kingdom Index (ETF)

On

. Dan Nathan spoke about an unusual options activity in

. Options in this ETF are not very active and on Wednesday 100 times average daily volume was traded. The most active were the October 21 call options and somebody bought 30,000 contracts for $0.15. Nathan added that it doesn't seem that the premium is expensive, but in many ways it is. He explained that the breakeven for this trade is at $21.15 or five percent higher (EWU closed at $20.15). The implied volatility increased sharply after this purchase.