I’m fundamentally friendly to the dollar going into a rate rising cycle, however I don’t have the stones to trade the futures outright given the potential volatility this afternoon.
Risking big figures in the currencies is not my style.
The street is expecting dovish. If Yellen is hawkish (today’s outlier) the Dollar could scream.
What to do..I have a resting bid to buy a few of the DEC 15 106.50 FXE Puts for 42 cents that expire Friday.
If I’m not filled before the release I’m cancelling the order.
Trade Size is a tenth of normal. If the Dollar rallies I just want to be mentally in the game.
Better to have a known loss than anything open ended.
This is a Punt with known downside.
There will be plenty of volatility between now and the end of the year.
TBT...44.47 is weekly resistance and the weekly ORH #