South Korea Trade - After the Initial Nuclear Threat from the North

I closed out the South Korea trade by selling my June $35 EWY calls for $1.90. That's a quick gain of 46% off of a cost basis of $1.30. Considering how craptastic my shorts have been over the last month, I am very pleased at this one-day result.

As I write this, the KOSPI is down about 0.25%, so it looks like I timed closing out this position better than when I opened it.

Even though the inspiration for this trade was buying in on overreaction to bad geopolitical news, the relative strength of the South Korean stock market and its strong upward trend may invite me back into buying more calls in the near-term. Here's the pictorial justification for such a trade: