Wow. I'm amazed by the frictions to trade more exotic stuff. I wanted to buy some put options on the Brazilian index in the UK or the US. It took me almost a month to set up an account and complete the wire transfer. I had to sign million of forms and it took almost 10 days for the first transfer to be approved.
Bid-ask spreads are transaction costs are high! If anyone is interested, thos are the two securities I selected:
1) One is an Ultra-short ETF on the Brazilian index (in US$), so if I get it right I'll get both the market fall in domestic terms, plus the currency depreciation (the real is seriously overvalued).
2) The other is a put option on the MSCI Brazil ETF, with strike 50 and maturity in Jan/2013.
Let's see what happens...
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