right - i am a moron.....

right - i am a moron.....

Author
Discussion

tricky69

Original Poster:

1,696 posts

248 months

Thursday 27th August 2009
quotequote all
can someone explain to me why if you are a buyer of 3yr upside USDJPY puts it means you are a buyer of an upside USDJPY 3yr One touch ??


Eric Mc

122,683 posts

271 months

Thursday 27th August 2009
quotequote all
You may be a moron - but there's no way anyone could tell from that post.

Is it in English?

tricky69

Original Poster:

1,696 posts

248 months

Thursday 27th August 2009
quotequote all
sorry is a bet techy but basic stuff and i am confusing my self

A put gives you the right but not the obligation to sell something at an agreed price on an agreed date... for this you pay a prem. Thjerefor if you by a USDJPY put you think the price will fall, so you can sell it at the Put level and buy it back at a lower level therefore making a profit

A One touch is an exotic option where you pay a prem to have an option that pays out if spot hits the barrier... if it doesn't payout you simply loose the premium you paid...

In my head then if you were a buyer of the USDJPY put and therefore think rate will fall you would be a seller of the OT... But thats not right and i don't know why

davemac250

4,499 posts

211 months

Thursday 27th August 2009
quotequote all
Doesn't that rather depend how many times you have cycled the options?

And if you FX account allows you to offset costs by mutual trading?

Am still not clear on what exactly you are asking?

Are you buying and selling. Buying both to hedge the currency rates? (you seem to have mixed the buy sell instructions between posts?)

O/T Pro-footballer..............? Nah!

WorAl

10,877 posts

194 months

Thursday 27th August 2009
quotequote all
Tricky is that you on your profile???

tricky69

Original Poster:

1,696 posts

248 months

Thursday 27th August 2009
quotequote all
davemac250 said:
Doesn't that rather depend how many times you have cycled the options?

And if you FX account allows you to offset costs by mutual trading?

Am still not clear on what exactly you are asking?

Are you buying and selling. Buying both to hedge the currency rates? (you seem to have mixed the buy sell instructions between posts?)

O/T Pro-footballer..............? Nah!
Just working on strategies.... our trading book says we are long spot position so ned to buy puts to cover it. I was looking into selling a one touch to cover it as it would be cheaper but apparently that does not work..

yeah pro footballer was a while ago now...

tricky69

Original Poster:

1,696 posts

248 months

Thursday 27th August 2009
quotequote all
WorAl said:
Tricky is that you on your profile???
had forgotten about her....errr yes it is

davemac250

4,499 posts

211 months

Thursday 27th August 2009
quotequote all
tricky69 said:
davemac250 said:
Doesn't that rather depend how many times you have cycled the options?

And if you FX account allows you to offset costs by mutual trading?

Am still not clear on what exactly you are asking?

Are you buying and selling. Buying both to hedge the currency rates? (you seem to have mixed the buy sell instructions between posts?)

O/T Pro-footballer..............? Nah!
Just working on strategies.... our trading book says we are long spot position so ned to buy puts to cover it. I was looking into selling a one touch to cover it as it would be cheaper but apparently that does not work..

yeah pro footballer was a while ago now...
OK, makes sense - sort of!

FX trading is not my thing, although we do take long position we do not actively chase margins in currency.

Are these deals running through a FX platform? The same one? In which case this sounds like a system to stop you taking advantage of this. Possible? The platforms after all are there to make revenue.

Again O/T (and tell me to bugger off if apt!) but has the revenue changes to footballer pensions hurt you? Am currently based off-shore and have some mates this has had an effect on and was looking at options for them. Just wondered if what they were saying was gospel ie that the old 35 yr old rule has been dropped for footballer schemes.

Eric Mc

122,683 posts

271 months

Thursday 27th August 2009
quotequote all
Talk about jargon?

I thought us accountants were bad.

tricky69

Original Poster:

1,696 posts

248 months

Friday 28th August 2009
quotequote all
davemac250 said:
tricky69 said:
davemac250 said:
Doesn't that rather depend how many times you have cycled the options?

And if you FX account allows you to offset costs by mutual trading?

Am still not clear on what exactly you are asking?

Are you buying and selling. Buying both to hedge the currency rates? (you seem to have mixed the buy sell instructions between posts?)

O/T Pro-footballer..............? Nah!
Just working on strategies.... our trading book says we are long spot position so ned to buy puts to cover it. I was looking into selling a one touch to cover it as it would be cheaper but apparently that does not work..

yeah pro footballer was a while ago now...
OK, makes sense - sort of!

FX trading is not my thing, although we do take long position we do not actively chase margins in currency.

Are these deals running through a FX platform? The same one? In which case this sounds like a system to stop you taking advantage of this. Possible? The platforms after all are there to make revenue.

Again O/T (and tell me to bugger off if apt!) but has the revenue changes to footballer pensions hurt you? Am currently based off-shore and have some mates this has had an effect on and was looking at options for them. Just wondered if what they were saying was gospel ie that the old 35 yr old rule has been dropped for footballer schemes.
i know my profile says ex pro football... bit tounge in cheek really, i played for a prem side but never played in the first team apart from being on the bench 3 times but never playing. Played a few carling cup / fa cup games but was never going to break through and then got injured.. so started to do other things and quit 4 years ago... am 27 now


WorAl

10,877 posts

194 months

Friday 28th August 2009
quotequote all
tricky69 said:
davemac250 said:
tricky69 said:
davemac250 said:
Doesn't that rather depend how many times you have cycled the options?

And if you FX account allows you to offset costs by mutual trading?

Am still not clear on what exactly you are asking?

Are you buying and selling. Buying both to hedge the currency rates? (you seem to have mixed the buy sell instructions between posts?)

O/T Pro-footballer..............? Nah!
Just working on strategies.... our trading book says we are long spot position so ned to buy puts to cover it. I was looking into selling a one touch to cover it as it would be cheaper but apparently that does not work..

yeah pro footballer was a while ago now...
OK, makes sense - sort of!

FX trading is not my thing, although we do take long position we do not actively chase margins in currency.

Are these deals running through a FX platform? The same one? In which case this sounds like a system to stop you taking advantage of this. Possible? The platforms after all are there to make revenue.

Again O/T (and tell me to bugger off if apt!) but has the revenue changes to footballer pensions hurt you? Am currently based off-shore and have some mates this has had an effect on and was looking at options for them. Just wondered if what they were saying was gospel ie that the old 35 yr old rule has been dropped for footballer schemes.
i know my profile says ex pro football... bit tounge in cheek really, i played for a prem side but never played in the first team apart from being on the bench 3 times but never playing. Played a few carling cup / fa cup games but was never going to break through and then got injured.. so started to do other things and quit 4 years ago... am 27 now
Micheal Owen Style then? laugh