More specifically, Third Rail Strategy eliminates losses below 15% and down to 40% while providing potential upside return capped in the low- to mid-double digits.

FORBES: Hedging Your Risk Without Missing The Bull Market

But any upside for Japanese stocks, said Alexei Chitov, head of trading at eWarrant Japan Securities, is capped by the headache that is the doggedly high yen, which makes the country's exports more costly compared against those of other Asian exporters with weaker curriences.

WSJ: Asia as Investor Haven? Market Rout Says Not