That performance is noticeably worse than that of the iShares MSCI Emerging Markets Index Fund (NYSE: EEM ) and the iShares MSCI Mexico Capped Investable Market Index Fund (NYSE: EWW ). Earlier today, a trader purchased 5,000 January 2014 $47 puts in EWZ on the offer for $2.37 per contract, according to Option Monster . Hampered by the global commodities slowdown, rising inflation and slack economic growth , EWZ has plunged more than 10 percent in the past year.