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I'm playing options on FXE to get exposure to EUR/USD.

lol @ the disparity between those two comments. nothing personal - just an observation.

Thanks for the insight buddy - appreciate it..

This euro rally looks like it has the feet - it will definitely cross 1.45 today. But the timing this rally is what drew my attention - i read somewhere that you should expect erratic swings during the holiday period so this might be just that, or it could be profit taking on euro shorts. I...

If it goes too far from 1.44 i think the Eur will have the upside advantage

I'm just looking @ a 5min chart waiting to see how this spike plays out - if it has the legs to go higher then it may be a good time to get out of euro shorts cuz the euro has been trending higher the past few days, this could be a result of thin liquidity as well.

it absolutely spiked up - maybe someone covered a Euro Short?

My guess is thin liquidity due to the holiday season - whether or not this turns out to be a genuine reversal, we'll have to wait and see.

That's in about 30 mins.. How are you playing this bud?

In my opinion, it was just a short squeeze folks - this dollar rally wont last into 2010. The unemployment number is coming out today and I believe that will be an excuse to push the dollar down further. Be careful out there

I don't follow .. What are you implying?

You make a good point - I'm worried about a sharp reaction in the EUR as well. Look at the Open Interest in the Dollar Index Futures (line along the volume in the image attached) and tell me what you make of it.

So you're a proper Euro Bear now? From selling puts to buying 1.4 puts? lol I hope you're right buddy, cuz I'm looking at a bearish put spread as well on the Euro. How are you trading it?

That's quite a call man - do you have anything to back that up?

Thanks for the explanation buddy - you've made me see the light.

I'd really appreciate some examples buddy .. cheers.

You lost me there buddy .. I know vega is the volatility sensitivity, i know IV shoots up as options prices go up - but I can't understand the claim you make here.. I'm still a beginner .. As for your statement on adjusting positions, how and when would you adjust, say, a vertical bull call...

That's a good tip, thanks.

Do option greeks really matter if you're holding out the position to expiration anyway (for whatever reason). For instance, in the case of selling an iron condor with a month to expiration and collecting the initial premium, how will monitoring greeks daily until expiration be beneficial if...

I'm getting the feeling that people here don't like IC's out till expiration ..? Why is that? I normally trade IC's with the smallest difference between the long and short legs and at least a 20 point range from one end to the other - for instance if GOOG is trading at 590, i will place a...