New Spread Trade in FXY

There has been a new spread trade started in Japanese Yen ETF FXY. The cost of the trade is $0.85 before fees and commissions. The target price of the trade is $2.00. Stop prices have been marked and are ready to go. This is the second trade in FXY this year (link to other trade can be found by here). Some reasons for the trade are below.

- FXY possibly hitting resistance at $86.00
- North Korea starting to rumble
- US administration complaining about value of dollar
- Japanese economic data being released this week



** 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 **

11/4 Update on Yen FXY Spread Trade

The current Japanese Yen (symbol FXY) spread trade will continue into next week. The expectation is still that it will reach $2.00. Stop loss pricing has been implemented as the trade only has two weeks remaining. Some notes and a daily chart are below.

- Trade now in the money on the put side
- 2 Spinning Tops formed last week
- M formation likely forming
- Dollar strength continues
- Japanese Central Bank left rates alone





** 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 **

New Spread trade in Japanese Yen (FXY)

A new spread trade has been made in Japanese Yen. The symbol for the ETF is FXY. KDK Options purchased a Nov 16 $84.50 put and a Nov 16 $85.50 call. The cost of the trade was $0.85 before fees and commissions. The expectation for the trade is $3.00. As regularly, conviction on the actual direction is not strong. But conviction on the market picking a direction soon is strong.  A 3 month daily chart with 20 and 50 day simple moving average lines has been attached. Stop loss pricing has been implemented. Some reasons for the trade are below.

- Forming triangle
- Possible Bull Flag with minor W formation 
- trend lines converging
- volatile stock market
- dollar strength
- election on Nov 9
- RSI at 50





** 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 **