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Tudor Leads Hedge Funds Using Options to Bet on China Stocks

Paul Tudor Jones and Louis Moore Bacon, in a trade used by several hedge-fund managers in the first quarter, loaded up on options that pay off big if Chinese stocks rebound.

Tudor Investment Corp. of Greenwich, Connecticut, and New York-based Moore Capital Management LLC each bought at least 7 million options on the iShares FTSE China 25 Index Fund during the quarter ended March 31, according to regulatory filings. Other money managers who used options to bet on or against the FTSE 25 included Philippe Jabre, George Weiss and Brian Stark.