CashNews.co
Traders spent about $55 million on bullish call options at the start of the week in a levered exchange-traded fund tracking China’s benchmark stock index, adding to unusual buying seen on Friday.
More than 200,000 Direxion Daily CSI 300 China A Share Bull 2X Shares (ticker CHAU) calls were bought Monday — allowing the holders to purchase 20 million shares of the ETF any time before mid-May at $15 apiece. At an average price of about $2.64 each, the total premium spent was upwards of $55 million.