What a surprise, just when I thought I was going to have to write off this option.
I am truly puzzled, Draghi’s speech last night was not encouraging nor negative, no reason for the EUR to surge upwards like a bat out of hell.
The big move happened during lunch time NY session, which hints to me that it was stop losses, options, and program trading that triggered the EUR and moved it upwards.
I have no confidence in the Eurozone and I feel that it has do to more if the Eurozone is to recover from its recession.
Therefore, I have made the decision to sell the option at 1.3260 this morning and locked in profits of 85bps or 0.64%.
