New Spread trade in FXY Yen

Hello

On Tuesday, KDK Options entered into a spread trade on the Yen ETF FXY. A purchase of an August 4 $85.00 call option and a July 28th $83.00 put option. The cost of the trade is $0.65 before fees and commissions. KDK Options has been successful before with FXY (June 10 trade here), (March 22 trade here).

The expectation is for the trade to reach $2.00. Some reasons for the trade are below

- Monetary policy is in the news with volatility rising

- The chart is saying the $84.00 price of FXY at the time of the trade was at a support level.

- This support level has been reached for a third time in recent months. FXY regularly has risen to $87.00 after hitting this point.

- If support is broken $ 81.00 is likely.


** This blog is used for informational purposes only. It should not be used as a recommendation to buy or sell any security. Do your own due diligence before trading or investing. If you would like up to the moment communication on KDK Options trades, email at kdkoptions@gmail.com **