EEM: A Monster Bearish Bet on Emerging Markets Into May

A big new bearish bet was registered today at 07:23am PST on Emerging Markets: a trader entered into a bearish put spread via May 2019 puts. The trade saw 25750 $38 puts bought and the same number of $34 puts sold.

The total value of the put spread is almost $1m and if this trader is right, the trade will turn into $9.4m by expiration in May (or 1011% profit return).

Notice the daily chart with a potential bearish wedge.

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