Options Bullish ETF Japan in calendar 2010 U.S. high The only trade Bet

Trading in options on the rise in Japanese stocks rose to the top of this year's U.S. trade after a single bet that companies in the third largest economy in the world will advance in the next 12 months.

One operation than 50,000 calls in January 2012 $ 11 to buy the iShares MSCI Japan Index Fund helped to increase the volume of contracts rising to 10 times the average of four weeks and 15 times the number offered for sale after 4 pm in New York. The exchange-traded fund fell 0.3 percent to $ 10.58, near its seven-month high of $ 10.69 reached on December 6.

Japan's economy grew faster than the government initially estimated in the third quarter due to an increase greater than that reported in capital spending. Gross domestic product grew at an annualized rate of 4.5 percent, faster than the 3.9 percent reported last month, the Cabinet Office said on 9 December.

"Someone may be seeing this as a possible indicator that Japan is ready for a strong 2011," said Steve Oh, a merchant sales Foundation Newedge Group in New York. "Especially coming on the heels of the stimulus package."

The lower house of Japan on 16 November passed legislation to fund a 5.1 trillion yen stimulus ($ 61 million).

Nikkei drops

Japan's Nikkei 225 Stock Average fell 0.7 percent to 10,211.95 today. Most Asian stocks fell amid speculation Chinese policy makers raise interest rates to curb inflation in the fastest growing economy in the world. The Nikkei has lost 4.2 percent this year compared with a gain of 9.4 percent for the 500 Standard & Poor's.

Contracts accounted for the bulk of the 57,080 calls and 3,193 puts on the ETF that changed hands today. Block calls traded at 1:08 pm New York at 69 cents, which means that the buyer paid $ 3,450,000.

"It is an opening of markets and want to maintain the position for several months at least to benefit from anything in Asia, which would make the Japanese market higher," said ETAI Friedman, head of derivatives trading at MKM Partners LP in Stamford , Connecticut.