Investors Are Betting On A Bearish Outlook For The Emerging Markets ETF
“Trading of bearish emerging-market options rose to a 10-week high as investors increased wagers that a U.S. exchange-traded fund tracking stocks in developing nations will retreat after doubling since March. More than 718,000 puts giving the right to sell the iShares MSCI Emerging Markets Index changed hands last week, or 54 percent higher than the average this year. The ETF, which tracks shares in 22 countries, lost 1.2 percent to $41.35 last week as the Dollar Index rose a second week, oil posted the longest losing streak in six years and investors speculated that the heightened risk of default in Spain, Greece and Dubai may signal that credit losses will spread throughout the global economy,” Jeff Kearns Reports From Bloomberg.
“What’s notable is the size and consistency of the trading over the past week,” said Mike Thurow, a senior options strategist at Susquehanna Financial Group LLP in Bala Cynwyd, Pennsylvania. “It’s been a steady stream of put buying and call selling, which means investors are betting on a decline over the next few weeks, as they’ve been primarily focused on January options.”
“Traders are speculating that emerging-market shares may reverse gains that led this year’s global rally after central banks around the world cut interest rates to spur lending and governments including China and the U.S. enacted $2 trillion of stimulus packages. The emerging-markets ETF, known by its (EEM) symbol, has jumped 66 percent this year, triple the gain for the Standard & Poor’s 500 Index,” Kearns Reports.
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The investment (EEM) seeks investment results that correspond generally to the price and yield performance of the MSCI Emerging Markets index. The fund generally invests at least 90% of assets in the securities of its underlying index or in ADRs and GDRs representing such securities. The index was developed by MSCI as an equity benchmark for international stock performance. It is nondiversified.
| TOP 10 HOLDINGS ( 23.64% OF TOTAL ASSETS) |
|
| Company |
Symbol |
% Assets |
| Bank Bradesco ADR |
N/A |
1.75 |
| China Mobile Ltd. |
N/A |
1.8 |
| HDFC BANK LTD |
(HDB) |
1.79 |
| ITAU UNIBANCO ADS |
(ITUB) |
2.7 |
| KB FINL GP INC |
(KB) |
1.75 |
| Petroleo Brasileiro S.A. |
N/A |
2.77 |
| PETROLEO BRASILEIRO |
(PBR) |
2.38 |
| POSCO |
(PKX) |
2.36 |
| Samsung Electronics Co Ltd |
N/A |
3.62 |
| TAIWAN SEMICOND ADS |
(TSM) |
2.72 |
|
| CALL OPTIONS |
Expire at close Fri, Dec 18, 2009 |
| Strike |
Symbol |
Last |
Chg |
Bid |
Ask |
Vol |
Open Int |
| 10.00 |
MBYLJ.X |
29.00 |
0.00 |
31.60 |
31.70 |
20 |
19 |
| 15.00 |
MBYLO.X |
19.45 |
0.00 |
26.60 |
26.70 |
1 |
21 |
| 16.00 |
MBYLP.X |
23.00 |
0.00 |
25.60 |
25.70 |
20 |
11 |
| 17.00 |
MBYLQ.X |
19.60 |
0.00 |
24.55 |
24.70 |
1 |
28 |
| 18.00 |
MBYLR.X |
12.80 |
0.00 |
23.60 |
23.70 |
0 |
268 |
| 19.00 |
MBYLS.X |
18.95 |
0.00 |
22.60 |
22.70 |
6 |
70 |
| 20.00 |
MBYLT.X |
17.80 |
0.00 |
21.60 |
21.70 |
15 |
447 |
| 21.00 |
MBYLU.X |
20.41 |
 2.41 |
20.55 |
20.70 |
1 |
226 |
| 22.00 |
MBYLV.X |
17.30 |
0.00 |
19.60 |
19.70 |
64 |
659 |
| 23.00 |
MBYLW.X |
16.06 |
0.00 |
18.55 |
18.70 |
2 |
42 |
| 24.00 |
MBYLX.X |
16.95 |
0.00 |
17.60 |
17.70 |
2 |
294 |
| 25.00 |
EEMLY.X |
15.65 |
0.00 |
16.60 |
16.70 |
1 |
729 |
| 26.00 |
EEMLX.X |
15.84 |
0.00 |
15.60 |
15.70 |
3 |
66 |
| 27.00 |
EEMLE.X |
14.50 |
0.00 |
14.55 |
14.65 |
30 |
287 |
| 28.00 |
EEMLH.X |
9.60 |
0.00 |
13.60 |
13.70 |
1 |
14,215 |
| 29.00 |
EEMLC.X |
11.45 |
0.00 |
12.55 |
12.65 |
20 |
7,754 |
| 30.00 |
EEMLF.X |
11.18 |
0.00 |
11.55 |
11.65 |
4 |
2,069 |
| 31.00 |
EEMLA.X |
10.20 |
0.00 |
10.55 |
10.65 |
1 |
7,502 |
| 32.00 |
EEMLB.X |
9.15 |
0.00 |
9.60 |
9.70 |
30 |
4,771 |
| 33.00 |
EEMLZ.X |
8.17 |
0.00 |
8.60 |
8.70 |
10 |
4,680 |
| 34.00 |
EEMLD.X |
7.19 |
0.00 |
7.55 |
7.65 |
1 |
36,900 |
| 35.00 |
EEMLI.X |
6.57 |
0.29 |
6.60 |
6.70 |
18 |
6,904 |
| 36.00 |
EEMLJ.X |
5.60 |
0.32 |
5.55 |
5.65 |
4 |
15,987 |
| 37.00 |
EEMLK.X |
4.55 |
0.20 |
4.55 |
4.65 |
233 |
26,230 |
| 38.00 |
EEMLL.X |
3.51 |
 0.04 |
3.55 |
3.65 |
12 |
39,181 |
| 39.00 |
EEMLM.X |
2.66 |
0.21 |
2.63 |
2.68 |
23 |
41,672 |
| 40.00 |
EEMLN.X |
1.74 |
0.18 |
1.70 |
1.73 |
110 |
57,443 |
| 41.00 |
EEMLO.X |
0.97 |
0.15 |
0.93 |
0.95 |
811 |
47,055 |
| 42.00 |
EEMLP.X |
0.36 |
0.05 |
0.35 |
0.37 |
9,939 |
64,255 |
| 43.00 |
EEMLQ.X |
0.09 |
0.01 |
0.08 |
0.09 |
332 |
54,958 |
| 44.00 |
EEMLR.X |
0.02 |
0.01 |
0.01 |
0.03 |
9,165 |
71,651 |
| 45.00 |
EEMLS.X |
0.01 |
0.00 |
N/A |
0.01 |
124 |
147,108 |
| 46.00 |
EEMLT.X |
0.01 |
0.00 |
N/A |
0.01 |
6 |
7,143 |
| 47.00 |
EEMLU.X |
0.01 |
0.00 |
N/A |
0.01 |
10 |
21,587 |
| 48.00 |
EEMLV.X |
0.01 |
0.00 |
N/A |
0.01 |
2 |
2,555 |
| 49.00 |
EEMLW.X |
0.02 |
0.00 |
N/A |
0.01 |
1 |
261 |
| 50.00 |
EEMLG.X |
0.01 |
0.00 |
N/A |
0.01 |
1 |
7,089 |
| 51.00 |
EIKLY.X |
0.01 |
0.00 |
N/A |
0.01 |
1 |
22 |
|
| PUT OPTIONS |
Expire at close Fri, Dec 18, 2009 |
| Strike |
Symbol |
Last |
Chg |
Bid |
Ask |
Vol |
Open Int |
| 12.00 |
MBYXL.X |
0.05 |
0.00 |
N/A |
0.02 |
5 |
5 |
| 14.00 |
MBYXN.X |
0.05 |
0.00 |
N/A |
0.02 |
2 |
135 |
| 15.00 |
MBYXO.X |
0.09 |
0.00 |
N/A |
0.02 |
0 |
19 |
| 16.00 |
MBYXP.X |
0.09 |
0.00 |
N/A |
0.02 |
4 |
276 |
| 17.00 |
MBYXQ.X |
0.04 |
0.00 |
N/A |
0.02 |
16 |
705 |
| 18.00 |
MBYXR.X |
0.01 |
0.00 |
N/A |
0.02 |
29 |
475 |
| 19.00 |
MBYXS.X |
0.02 |
0.00 |
N/A |
0.02 |
3 |
650 |
| 20.00 |
MBYXT.X |
0.01 |
0.00 |
N/A |
0.02 |
57 |
337 |
| 21.00 |
MBYXU.X |
0.04 |
0.00 |
N/A |
0.02 |
40 |
6,060 |
| 22.00 |
MBYXV.X |
0.02 |
0.00 |
N/A |
0.02 |
335 |
3,138 |
| 23.00 |
MBYXW.X |
0.02 |
0.00 |
N/A |
0.02 |
16 |
1,381 |
| 24.00 |
MBYXX.X |
0.01 |
0.00 |
N/A |
0.02 |
66 |
29,207 |
| 25.00 |
EEMXY.X |
0.01 |
0.00 |
N/A |
0.01 |
5 |
66,802 |
| 26.00 |
EEMXX.X |
0.01 |
0.00 |
N/A |
0.01 |
2 |
1,578 |
| 27.00 |
EEMXE.X |
0.01 |
0.00 |
N/A |
0.01 |
56 |
33,087 |
| 28.00 |
EEMXH.X |
0.01 |
0.00 |
N/A |
0.01 |
148 |
14,517 |
| 29.00 |
EEMXC.X |
0.01 |
0.00 |
N/A |
0.01 |
70 |
54,195 |
| 30.00 |
EEMXF.X |
0.01 |
0.00 |
N/A |
0.01 |
647 |
72,287 |
| 31.00 |
EEMXA.X |
0.01 |
0.00 |
N/A |
0.01 |
30 |
110,870 |
| 32.00 |
EEMXB.X |
0.02 |
0.00 |
N/A |
0.01 |
1 |
38,794 |
| 33.00 |
EEMXZ.X |
0.01 |
0.00 |
N/A |
0.01 |
38 |
31,681 |
| 34.00 |
EEMXD.X |
0.01 |
0.00 |
N/A |
0.01 |
30 |
76,529 |
| 35.00 |
EEMXI.X |
0.01 |
0.02 |
N/A |
0.02 |
112 |
148,704 |
| 36.00 |
EEMXJ.X |
0.02 |
0.00 |
0.01 |
0.02 |
682 |
83,310 |
| 37.00 |
EEMXK.X |
0.02 |
0.03 |
0.01 |
0.03 |
1,354 |
89,376 |
| 38.00 |
EEMXL.X |
0.04 |
0.03 |
0.03 |
0.04 |
1,575 |
71,486 |
| 39.00 |
EEMXM.X |
0.07 |
0.06 |
0.06 |
0.07 |
956 |
39,751 |
| 40.00 |
EEMXN.X |
0.13 |
0.12 |
0.12 |
0.14 |
3,639 |
79,216 |
| 41.00 |
EEMXO.X |
0.31 |
0.18 |
0.32 |
0.33 |
4,821 |
40,940 |
| 42.00 |
EEMXP.X |
0.75 |
0.27 |
0.74 |
0.76 |
268 |
19,481 |
| 43.00 |
EEMXQ.X |
1.65 |
0.16 |
1.48 |
1.52 |
8 |
8,078 |
| 44.00 |
EEMXR.X |
2.94 |
0.00 |
2.41 |
2.46 |
50 |
3,848 |
| 45.00 |
EEMXS.X |
4.40 |
0.00 |
3.30 |
3.40 |
68 |
54,572 |
| 46.00 |
EEMXT.X |
4.20 |
0.00 |
4.30 |
4.45 |
1 |
490 |
| 47.00 |
EEMXU.X |
6.25 |
0.00 |
5.30 |
5.45 |
101 |
229 |
| 48.00 |
EEMXV.X |
7.75 |
0.00 |
6.30 |
6.45 |
10 |
117 |
| 49.00 |
EEMXW.X |
7.90 |
0.00 |
7.30 |
7.45 |
10 |
100 |
| 50.00 |
EEMXG.X |
11.50 |
0.00 |
8.35 |
8.50 |
10 |
20 |
| 51.00 |
EIKXY.X |
12.50 |
0.00 |
9.35 |
9.50 |
10 |
20 |
|
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ETF BASIC NEWS, NYSE:EEM
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