The USA had two good days; good ISM manufacturing PMIs, good ADP non farm payrolls, good ISM non manufacturing PMIs………..kept the USD bidded against all majors.
Although, my put options are only expiring tomorrow and we have the non farm payrolls which could be stronger or weaker than the ADP, I am not confident in taking the risk exposure going into the last day of my option.
So I decided to take what the market could give me now and sold off both the put options at 1.3180 for a trading profit of 80bps. Not bad lah…………1:1 payout ratio, was hoping for more…………….however, never stare Lady Luck in the face.
So, gladly I am out of all four put options without any BLOOD! Sold of the first two at breakeven level and the last two for a profit.
The Panthenon Investment Group 