Recent content by MacroAlex

Oh that was the autocorrect. I meant "is".

Great thread. The point is that shorting the Yuan ist very expensive via options or spot.

That's what I thought but why are more and more Hedge funds in it, including Bass etc.. If the HIBOR spikes that should hurt their profits as well? Is anyone aware of retail HKD options?

I thought the HIBOR spike makes the CNH spot trade pointless? I had a spot position for a few weeks and the interest ate all my profits. Is anyone aware of better way to trade the Yuan than spot? The IV in options must be very high I guess and the future are expensive as well.

I am not sure about the IV. Maybe a more experienced trader could elaborate on this? I mean everybody knows about the coming devaluation and I cannot imagine that there are still options worth their money with that amount of IV priced in.

Saxobank seems to have a good offer with prices that seem to be ok as well. Thanks for the info.

Thanks. Seems to be good to buy some spot and some options. Good idea with the carry but I would prefer the USD/CNH because of the low volatility. How do you come to the conclusion about the PnL distribution?

Thanks. Are you aware of any other options? I thought about opening a spot position as well in case the devaluation will be gradually and slow (they can't devalue too much at once imo).

Thanks but it looks like this is the swiss franc you are showing if I am not wrong. I was talking about the RMBX6 future. Are you having volume for those options?

I see what you mean, good point. I found some options on Yuan/USD futures but it looks as there is no bid or ask available. Does anyone have suggestions how to get these?

Wow I did not expect such great answers. Thank you. In terms of expensive: I remember hearing from Mark Hart of Corriente that he bought 1 year 7 calls on the USD/Yuan which cost only 20 Bp per year. As far as I remember this was in 2012 or so the volatility was much lower and they are supposed...

Hello everyone, so I would like to bet on a Yuan devaluation (against $). Is anybody aware of a good way to buy cheap USD/Yuan call options? I found some options on the CYB ETF and calls from Goldman Sachs but they seem rather expensive. Thanks in advance