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. EWZ has found support at $50 multiple times over the past two years , but buyers could be tired of defending that area.