By: Andrew Keene
Today’s trade is in the CurrencyShares Euro Trust (FXE). FXE is an exchange traded fund that mimics the price of the Euro. FXE is currently trading around $128.75 in a 52 week range of $119.74-$134.89. The fund has seen a decline of 1.37% YTD and 5.54% in the past 12 months. The Euro is trading at 3-week highs as traders become optimistic that European Union will come to a deal over Greece’s budget. This trade will profit on a bearish pullback from the gap higher on Friday’s shortened session.
My trade: Buy the FXE Dec 128-127-126 Put Fly for $0.13
My risk: $13 per one lot
My reward: $87 per one lot
My break even: $127.87 and $126.13