Traders Bet on Declines in China, Brazil

OptionMonster co-founder Pete Najarian provides options picks Monday, Wednesday and Friday in TheStreet.com's Deep in the Money Calls newsletter.

David Russell, reporter for OptionMonster.

The emerging markets of Brazil and China have led the global stock markets this year, but now options traders are looking for a pullback.

Put volume in the exchange traded fund that tracks China surged to 73,048 contracts, more than twice the average and six times the number of calls. Most of the buying focused on the July 34 strikes, which changed hands 56,206 times against open interest of 5,340 contracts. The July 37 puts also traded more than 5,000 times for $2.25 to $2.55, although volume was below open interest. ...