Dove-tailing with icd's analysis of the Euro, it appears that there may be a set-up for a neat option trade here. There is nearly a month left in the Sep options and, with the relative calmness recently, the volatility factor in the premiums is just about absent.
Thursday I entered with 5-1.3000 puts @ 16 tics. $200 each. I also added 5-1.2800 puts @ 5 tics. $62.50 each.
While I don't necessarily expect them to get into the money, any movement in their direction should prove interesting. And if, as icd indicated, that we are looking at a near term top, some decent money can be made.
I like to capitalize on swift one-way movements that often result in a quick return to the previous range. 1.300 to 1.320 seems the likely target before the expiration.
Of course, that's just my opinion. I could be wrong.
Stomper
