Here’s where I took an aggressive position…
In the last week of 2005,
I outlined what I felt were compelling reasons as to why the Euro would be the
trade of the first quarter. As such, I took on an aggressive position by buying
out of the money calls with a strike price of 123, while the Euro FX was trading
down around 119. I purchased the calls for 68 ticks and as of this morning they
were trading around 170 ticks as they have just moved into the money with 8
weeks until they expire.
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