Trader Sees Floor in Turkey Fund

The iShares Turkey Fund has plummeted in the last year, but a large trader is looking for the bleeding to stop.

More than 5,400 TUR options have changed hands so far, compared to the daily average of just 775 over the last month. Topping the action are the February 43 puts.

Almost 5,000 of those contracts have traded in what is clearly a new position, as previous open interest in the strike was just 42. The big block of 3,600 was sold for the bid price of $1.

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