. >> last week, colin carter made a bullish bet on japan. >> we're close to hovering at well defined lows in a common level an then break those lows. so we want to be short ewg. >> i'm looking simply at the june put spread. this is interesting, because with the underlying, with ewj when i was looking at this, could you pay just over 50 cents, sell the june 11 for 26, 51 cents for the spread. >> this is what carter was referring to. the ewj was up 4% this week. mike, what are you doing with the trade? you have time. >> we do have a little bit of time. ewj was up. not up huge. it puts it slightly in the money. you know, i'm ready to hear what carter has to say. this was a tough week. let's face it. to be short any type of risk asset. there was apparently a lot of bad news built in with financials and the whole market has been a buyer ever since those news came out. i'm ready to hear what carter has to say. >> what's interesting about this is the nikkei was up almost twice as much, which you have the currency issue and the market. we don't have that problem, but either way, this is a bl