Totalitarian holdout North Korea attempted to scare its oppressed people into further submission by testing nukes. The South Korean stock market reacted accordingly:
May 27 (Bloomberg) -- South Korea’s won dropped 0.2 percent to 1,265.45 per dollar after North Korea threatened military action in response to the Seoul-based government joining a program to seize weapons shipments.
The benchmark Kospi stock index dropped 0.7 percent to 1,363.54.
Of course, this happened on a day when Japan climbed ~1+% and the Hang Seng rocketed up 4+%.
So I picked up some June EWY $35 calls a bit prematurely for $1.30. My annotated chart below projects a price target of at least $38 by June options expiration. This assumes that EWY will continue on its trendline prior to this nuclear threat hiccup.