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On April 20th, I felt that the AUDUSD was peakish from a technical viewpoint.  More importantly, was the recent media releases about the health of the banks and the fact that the property market in Australia is starting to slide.

I decided to take the opportunity to do a 2 week put option expiring on May 4th with the following details: –

Strike; 0.7722, Premium; 50bps, Breakeven; 0.7672

Let’s see.

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