Traders in the British Pound (6BH2026 -March futures) are acting quite predictably.
After last week’s rally (by the way — GBP rose to the outer 95% ER boundary, which rarely happens), we started seeing naked puts appear on Thursday and Friday.
Their break-even points sit right within the recent bullish move (#1 and #2 on screenshot).
Here’s how to interpret this:
If GBP starts to decline, these levels could act as support zones — and potentially mark the end of the correction.
The mechanics behind it?
By adding a long futures position to a long put, traders create a synthetic call — a structure designed to profit from upside after the dip.
In short:
They’re not just betting on a drop — they’re positioning for the next leg up.
#GBP futures
After last week’s rally (by the way — GBP rose to the outer 95% ER boundary, which rarely happens), we started seeing naked puts appear on Thursday and Friday.
Their break-even points sit right within the recent bullish move (#1 and #2 on screenshot).
Here’s how to interpret this:
If GBP starts to decline, these levels could act as support zones — and potentially mark the end of the correction.
The mechanics behind it?
By adding a long futures position to a long put, traders create a synthetic call — a structure designed to profit from upside after the dip.
In short:
They’re not just betting on a drop — they’re positioning for the next leg up.
#GBP futures
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.