Synopsis: This week, the options trade of the week is all about emerging markets. More specifically, there was a lot of major bullish activity in iShares MSCI Emerging Markets ETF (EEM). EEM is one of the most popular ETFs on the market and often a popular component of long-term portfolios. Recently, quite a bit of substantial call action occurred in EEM, which suggests there are a lot of investors who think it is going higher through the end of the year. For example, a 10,000-lot of December at-the-money calls were purchased as well as a 15,000-lot of November out-of-the-money calls.