Squawk / 06 October 2016 at 10:08 GMT
Analyst / PIA First
United Kingdom
Hi Alex. What your view on a long dated PUT options on EURGBP. Do you think its got value. I think we could see 0.8150 by year end. Thanks in advance
06 October
AlexF AlexF
Hi Ian sorry was not in front of computer today. Just check a put option Mid Jan 2017 bite after the Italian referendum but bit before the Brexit date ,premum is really low so I guess not much interest.. If u bet on something dramatic in europe eg: Italy going wrong them yes. But why eurgbp and not eurusd, since at least we know US is strong while GBP involves brexit issues. I took long position USD this morning vs CHF and JPY
06 October
AlexF AlexF
Hardy's view is GBP will grind lower to peak at lows jsut before brexit activation in march
07 October
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Thanks Alex....... would have got it cheap last night !!! LOL..... crazy markets ...
07 October
AlexF AlexF
Yes if only we stayed with our GBPUSD short from the beginning we would have had a great week end...I sold for a 100 pips profit but look at it whre it is now....
07 October
AlexF AlexF
On eurgbp
Given the tremendous volatility potential in the spot exchange rate, traders may prefer to express their views in options, EURGBP optionality may be preferable to GBPUSD for trading options horizons that go beyond the US presidential election, although they are priced similarly. Traders expecting GBP to devalue further might consider EURGBP calls and call spreads for expiry in 1-2 months, or buying spot with an options collar (long a put and short a call) to limit loss potential.

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