Winwise, those trades seems against you
"The CurrencyShares Japanese Yen Trust (FXY) is an exchange-traded fund that tracks the Yen/$ currency pair and is trading up 89 cents to $105.06 per share Friday. At least one strategist seems to expect a pullback in the exchange-traded fund, however, and was seen buying the September 101 - 98 put spread in morning trading. That is, it appears that this investor bought 1,250 September 101 puts for 75 cents per contract and sold 2,500 September 98 puts for 20 cents, creating a bearish position that yields its best profits if FXY falls to $98 per share or less by mid-September. " |