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President Donald Trump and a cavalcade of American business leaders landed in Beijing Wednesday for talks with Chinese leader Xi Jinping, and market bulls are following.
Chinese stocks, ETFs and related themes posted some of the biggest rallies in months. Shares of e-commerce giant Alibaba
surged 8% despite reporting earnings in the morning that missed most expectations, leading a 2.5% rally in the iShares China Large-Cap ETF (FXI)
About five times more calls traded than puts in Alibaba, with more than 75,000 calls bought compared to under 12,000 puts bought, according to ThinkOrSwim data. Among the $160 million traded in options premium as of midday Wednesday, 88% was in calls, according to SpotGamma.
