EWZ iShares MSCI Brazil ETF

$EWZ - Brazil is bull-flagging above its 20EMA. The elections next month could lead to a big gap. When Milei won in Argentina, $ARGT gapped up more than 10%.

$EWZ (iShares MSCI Brazil ETF) jumps nearly 4% Wednesday, its best day in about five months, as President Lula's lead over right-wing Senator Flávio Bolsonaro narrows in a new Quaest poll ahead of the election.

Brazilian stocks are gaining momentum after a months-long sell-off from six-year highs reached in April. The iShares MSCI Brazil ETF is up more than 12% from last month’s lows and 19% year to date, outperforming the Nasdaq-100’s 15% gain. The rally may be driven by surging commodity prices or optimism ahead of Brazil’s October general election. Options traders are also taking increasingly bullish positions: EWZ options volume exceeded six times its 30-day average on Wednesday, with more than 420,000 contracts traded by midday. Calls overwhelmingly dominated activity, with about 400,000 calls versus fewer than 30,000 puts. Nearly all of the $50 million in options premium traded was tied to calls, although substantial call selling suggests some traders may be using bullish spreads or strategies designed to profit from elevated volatility. Implied volatility has risen from 0.28 to 0.39, making EWZ options among their most expensive since late June $EWZ $NDX $VIX

🔴 $EWZ 38P Nov 20 💰 $68,700 premium 💵 $2.77/contract 📊 0.3x Vol/OI 📍 Spot $38.01 🚨 Repeat sweep 🌊 Dark Flow | Options Flow

$EWZ right at the 200w moving average. A weekly close above and it’s a whole new ballgame.

🟢 $EWZ 38C Sep 18 💰 $117,500 premium 💵 $0.47/contract 📊 0.4x Vol/OI 📍 Spot $37.73 💰 Large premium | 🚨 Repeat sweep 🌊 Dark Flow | Options Flow

$EWZ looking interesting with election vibes heating up Institutions are leaning bullish with medium-dated calls Seeing big blocks like 25k Nov $40, 25k Nov $46, and 17k Jan $45 That's about 67k contracts and $11.7M in premium Seems like they're stacking up for a medium-term move But don't ignore the hedging On 9/4, there was a big play on 9/18 $37.5 puts with over 33k contracts Near-term election headlines could shake things up despite the bullish tilt Looks like a setup for defined-risk upside strategies rather than going all in on a single direction Stay sharp

$EWZ was on the brink of breaking down and has rallied ~10% since this post. Reversals like this tend to swing harder and faster than you’d expect, watching for $40 next

$EWZ getting some interesting orders notably this $1.5M Order for the $36 Call Expiring 11/20/26! 👀