Eurostoxx 50, IBEX 35 Divergence Opens Call Play

The extreme short-term divergence between the Eurostoxx 50 and the IBEX 35 has opened up an opportunity to buy calls on the SX5E against the IBEX, according to Société Générale’s global equity flow advisory team. The tactical play anticipates that the European index will reclaim lost ground against the Spanish index going into year-end.