Friday, February 17, 2006

GBP/USD Put we sold rolled off today....perfect...

Just a quick note to say the 1.7350 Put option on GBP/USD we sold rolled
off today...sold it at 56.8 in £7 a point, and it expired today with
spot around 1.7370, so absolutely perfect...I pocket the £398 premium.
Looking at the charts it look like cable could have a quick slide down
to 1.71 area, and on the long-term charts if it gets there it could
REALLY fall off a cliff...however I don't particularly believe in
charts, so I'll look to sell more puts when spot is between 1.71 and
1.72, so we'll keep an eye on it.

Now, its Friday night so time for some beers...


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