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Last Friday night, I decided to buy two GBPUSD call options because I felt that the GBP was probably hitting a low with the following details: –

GBPUSD Call option expiring Friday, October 27th; spot at 1.3030, premium at 100bps and breakeven at 1.3130.

GBPUSD Call option expiring Friday, November 10th; spot at 1.3030, premium at 138bps and breakeven at 1.3168.

Let’see what happens, spot is currently trading at 1.3134.  Let’s hope May doesn’t derail anything.

 

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