OPTIONS traders keep finding new reasons to get bullish on Chinese stocks. First an acceleration in government spending sent the biggest Chinese exchange-traded fund in the US to a three-year high in September. After that rally faded, bulls turned their attention to the Shanghai-Hong Kong exchange connect. When inflows as the link debuted last week proved disappointing, optimists were redeemed by China's surprise interest-rate cut.
The result is that options traders are now the most bullish on record, sending the cost of three-month puts on the iShares China Large-Cap ETF to an all-time low relative to calls on Nov 21. JPMorgan Chase & Co, Barclays Plc and UBS AG say the People's Bank of China's...
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