NaughtyPines

Opening: EWZ August 19th 23 Short Put

Long
AMEX:EWZ   iShares Inc iShares MSCI Brazil ETF
... for a .47/contract credit.

Comments: Selling some 15 delta premium in the Brazil exchange-traded fund (IVR/IV 83/54) on weakness. .47 on buying power effect of 2.31 (on margin). 20.3% ROC at max; 10.2% ROC at 50% max.
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