Bulls double money in $ASHR

It took just three sessions for option traders to chalk up a win in the Xtrackers Harvest CSI 300 China A Fund.

On April 2, Investitute’s tracking systems found that 10,000 Weekly $30.50 calls expiring on April 12 were bought for $0.27 and $0.28 with shares at $29.59. This was clearly fresh buying, volume was far above the strike’s existing open interest of 198 contracts. Investitute co-founder Jon Najarian cited the unusual activity at that time on CNBC’s “Halftime Report.”

Those calls traded for $0.54 today, double their initial purchase price. The stock rose 3.21% in the same time frame, showing how quickly options can far outperform their underlying shares.

ASHR was up 1.73% to $30.52 today. The exchange-traded fund has rallied with further progress and hope of a U.S.-China trade agreement.