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Tim Biggam of Delta Derivatives spoke on Bloomberg Markets about his bearish options trade in Market Vector Russia ETF Trust RSX.
He thinks the stock is overbought as its 14-day RSI is trading over $80. He wants to take a short position with a purchase of the January 22 puts for $1.50. The trade breaks even at $20.50 or 3.80 percent below the current market price.
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