Taken an options position on EURGBP to play the range we currently find ourselves in.
Individually the Euro and the Pound have been pushed around by the Dollar recently but with Gov Bailey speaking later today and GDP figures due tomorrow I think there is scope for GBP to make a significant enough move considering the strike.
Call @ 8800 exp Oct 14
Put @ 8750 exp Oct 14
Individually the Euro and the Pound have been pushed around by the Dollar recently but with Gov Bailey speaking later today and GDP figures due tomorrow I think there is scope for GBP to make a significant enough move considering the strike.
Call @ 8800 exp Oct 14
Put @ 8750 exp Oct 14
Comment:
Back inside the range once again after the larger breakout and failure yesterday. The Pound has been pretty strong whilst the Dollar moves sideways but with the CPI data due later today we'll see if that has any material impact on either of these to take us outside the range once again.
Most likely we'd see an equal move into or out of both EUR & GBP so we may be destined to end the week inside the range unfortunately.
Most likely we'd see an equal move into or out of both EUR & GBP so we may be destined to end the week inside the range unfortunately.
Trade closed manually:
Position closed yesterday @ 13:35 pm after the aggressive move down and CPI data release.
Great result overall and highlights why the options straddle is so powerful when direction is unsure.
Great result overall and highlights why the options straddle is so powerful when direction is unsure.
Now back inside the range it may be difficult to reach a profitable resolution to this trade before the end of the week. Very often when price re-enters a range like this it can get caught for an extended period of time.
Still in and hopeful we see some movement.