The Index has been developed by MSCI Inc. as an equity benchmark for its international stock performance. The Index includes stocks from Europe, Australasia and the Far East. The Fund invests in a representative sample of securities included in the Index that collectively has an investment profile similar to the Index.
Look at the option volume for the May contracts.
Today there was 232,000 puts traded and 14,000 calls.
This looks very bearish for international stock performance, combined with the ongoing spike in oil. Someone is betting big on a downward move in this ETF. The active contracts are the May 52 and May 43 puts.