Steve Sosnick's iShares MSCI Canada Index (ETF) Trade

Steve Sosnick, equity risk manager at Interactive Brokers, recommended on Bloomberg Markets a bearish options strategy in iShares MSCI Canada Index (ETF) (NYSE: EWC).

Sosnick thinks that the trade anxiety between the United States and Canada and a decline in crude oil price are going to hurt Canada in the short term. He believes that iShares MSCI Canada Index (ETF) is going to trade lower and he wants to buy the June 26 puts for $0.50. The trade breaks even at $25.50 or 2.71 percent below the closing price on Thursday.