China ADR's soared today. With $BIDU up 4%, $QIHU up 11%, $BABA up 3.87%, and $SINA up 11%. The ETF that tracks Chinese Large Cap stocks, $FXI, was up over 6% today. Continuing a massive rally over the last two years. Is today's gap a blow off top? Or will China continue to roar higher?
The unexpected ramp higher offered some tremendous gains for those in the call contracts.
$FXI call options were up over 1,000% today.