New Spread Trade in Japanese Yen ETF FXY

There has been a new spread trade in the Japanese Yen ETF FXY. KDK Options has purchased a July 6th $87.00 call option and a $86.50 put option for a price of $0.97 before commissions and fees. The expectation is that the trade will end at $2.00. Some reasons for the trade are below.

- price has been calm, forming a triangle on a support level
- trade issues starting to heat up
- US dollar volatility starting to pick up



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