How to play Greece?

[drukes1234]

I know there is no Greece ETF, what is the best proxy?

 

[Deas418]

Lyxor ETF MSCI Greece (Frankfurt exchange)

http://www.boerse-frankfurt.de/EN/index.aspx?pageID=105&ISIN=FR0010405431


Top Holdings in the Fund

National Bank of Greece 27.33% ( NYSE: NBG)
Coca-Cola Hellenic Bottling 19.97% (NYSE: CCH)
OPAP 15.59%
Alpha Bank 9.39%
Hellenic Telecom 8.62%
Bank of Cyprus 7.81%
Public Power Corp. 6.01%
EFG Eurobank Ergasias SA 5.29%

So you can get a pretty good exposure (about 47.3 %) with top two companies on NYSE.

 

[drukes1234]

Oh thanks. I guess I can just buy that ETF though?

 

[drukes1234]

I'll just buy NBG as a non-expiring call option -- assuming it has a very good chance of going to zero.