“Yea, that’s Cable imploding today from the “Brexit” vote hangover !”
It never made any sense to me last night looking at the opening call spread
premiums in GBPUSD & GBPJPY, which were the highest I’ve seen since I
have been following NADEX from last November … after the votes? … on a
Friday? … seriously?
And without further ado, today sees the resultant unwind slaughter of 100+
PIP premiums erode like ice cream in the sun, as Cable has a 70-ish PIP range
after 18 hours of back & forth Friday position squaring … currently the
premiums are hanging around the 60 area, so do the math with 3 ½ hours to
expiration. Not a position I’d like to be in, that’s for sure.
Oil for its part is going to see another drop this weekend in its 20 Day Range
MA, and the action in this complex is priced for volatility, but none is
delivered … doesn’t matter if it moves a little, it needs to move more than that
to escape call spread evaporation. And so, we leave oil alone until the 20 Day
Range MA starts to turn higher … and when that is, who knows, cuz the only
alternative is to lose money, and I ain’t doing that.
Blog update on Sunday … until then mi amigos … Onward & Upward!!
Have a great weekend everybody!
OUR NADEX SIGNALS SERVICE IS UP & RUNNING … DAILY
WTI CRUDE OIL SIGNALS & “VOLATILITY” STRATEGIES
IN 20 OTHER MARKETS, INCLUDING COMMODITIES, FX,
& STOCK INDICES! … “what on earth are you waiting for”?
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