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Commodity Trading Discussion Forum

Re: U.S.$ ETF:UUP/Big Spike up late/Lee/Trades/BW

Posted By: Lee
Date: Thursday, 5 November 2009, at 9:17 p.m.

In Response To: Re: U.S.$ ETF:UUP/Big Spike up late today/Lee *PIC* (Trades)

Hi Trades,
I'm looking at the options from the Bill Ward post.

I am almost lost on futures options.

But ...

For GCZ9 (18 days left) the open interest on the 1100 Call is 11,621 and I think would cost $1450 per option (ignore comm.)

The OI on the 1200 Call is 29,260 and would cost $120.

If my numbers are correct, and you really thought GC would get to 1100 in the next 18 days, I don't know what the 1200 call would be worth. The delta is currently 0.05 but I just do not know how to calculate it.

Then I look at the bid/ask 0.50/2.20 and it is clear to me that I do not understand how to play in this sandbox !!

Lee

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