Some players in the options market strangled the iShares Emerging Markets Fund (EEM) for a second time this week. On Monday, we saw interest in the EEM March 40/35 strangle. Wednesday, attention turned to the December contracts.

Some options traders bought strangles on PXP, a sign that some expect the volatility in the share price to continue. The stock has a 52-week high and low of $79.86 and $35.31. Earnings due out on August 6.