Are Brazilian Stocks Poised To Rally?

iShares MSCI Brazil ETF EWZ Thursday closed its worst quarter since March 2020

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said that iShares MSCI Brazil ETF traded 2.7 times its average daily call volume on Thursday. Calls outpaced puts by over 2:1, he added.

Check out other emerging stocks making moves in the premarket.

There was an institutional buyer of 5,000 of the July 28 calls at 50 cents per contract on average, Khouw mentioned. The trader sees iShares MSCI Brazil ETF rising by at least 4% by July expiration, he added.

EWZ Price Action: iShares MSCI Brazil ETF declined 1.4% to settle at $27.39 on Thursday.