One of the longer-term trades I've got on is in the Euro/USD proxy ETF
. I've posted a bit previously on my approach to FXE
, which would be similar to my trading EUR/USD
spot -- sell on strength. In FXE's case, I'm looking to sell on a particular flavor of strength, namely price of the underlying's movement back toward 112.5 or, more ideally, above that in a fashion similar to that we experienced in the "risk off" environment that we saw on 8/24, when FXE
briefly popped above 114, which was a perfect place to add a "rung" to my "laddered" short call credit spreads/verticals that have been placed at expiries of increasing duration. Currently, I've got some rungs on with expiries in late September weeklies, the mid-October monthly, and the December monthly. A November monthly expiration is not yet available, and I'm not sure I want to go all the way out to January until I see what FOMC does next week.