The iShares China Large-Cap ETF ($FXI) has shown significant volatility, rising nearly 40% over a two-week period before experiencing a sharp correction of approximately 10% in a single day. Investors have expressed surprise at the rapid increase, with some noting that the surge was unexpected. Amidst this fluctuation, one trader reported holding call spreads that have appreciated nearly 70% since last week. As the market looks for potential support levels, there is speculation about possible stimulus announcements from China that could further influence the ETF's performance. Some investors are considering additional strategies, such as put sales, to navigate the current market conditions.