Trade Idea: FXY December 16th 2 x 67/December 16th 72 Call Ratio

3 thg 6, 2022

With the yen at multi-year lows, looking to take a bullish assumption directional shot with plenty of time to work out in the Yen proxy, FXY.

The basic setup is to buy 2 x the 75 delta strikes and sell the 50's, resulting in a ~100 net delta long setup with a hypothetically infinite maximum profit.

Currently, the setup is pricing out at 9.90 with a 71.95 break even, which is slightly above where the underlying is trading pre-market. Will post if I get filled.

3 thg 6, 2022

Giao dịch đang hoạt động

Well, not the most liquid thing in the world. Had to penny up "a few times" to get a fill. 9.65 (.10 off the mid price) with a 71.83 break even.

3 thg 6, 2022

Ghi chú

As is the usual with these, I don't have a predetermined TP, but am eyeing that 2015 low at 78-ish as a potential level to consider. I generally start to look to take profit at 120% of what I put the trade on for, which in this case would be 11.58 (1.93/$193) profit. That would be a move to 74 or so.