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Decided to take a small punt though I wasn’t exactly comfortable with the volatility.

A two day put option was 120bps, which means for every 1Million nominal option size, the cost is $12,000/-.

Nonetheless, decided to take a small position with the following details: –

2 Day Put Option

Option Amout: $2Million

Strike: 1.4862

Premium: 115bps

Breakeven: 1.4747

It’s gone crazy now!!!!

About half of the results are in and Leave leads by 3.5%, GBP plummets.

I decided to take profit on my option and sold the option five minutes ago at 1.3490 for a whopping 1,257bps or a payout ratio of 10.4:1!!!!!

I am out for the rest of the day! Thank you UK!

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