Jim Grant tipped long calls on Swiss/euro in Sept

[Visaria]

Must have gone up 50x...

http://www.valuewalk.com/2015/01/jim-grant-swiss-franc/

In the September 19th issue of Grant’s Interest Rate Observer Jim Grant wrote: “…we venture that the SNB will sooner or later be forced to permit the franc to appreciate and thus to enrich the holders of low-priced, three-year call options on the Swiss/euro exchange rate. It’s a long shot, to be sure—the options are cheap for a reason—but we judge that the prospective reward is worth the obvious risk.”

 

[guy990opl]

Must have gone up 50x...

http://www.valuewalk.com/2015/01/jim-grant-swiss-franc/

In the September 19th issue of Grant’s Interest Rate Observer Jim Grant wrote: “…we venture that the SNB will sooner or later be forced to permit the franc to appreciate and thus to enrich the holders of low-priced, three-year call options on the Swiss/euro exchange rate. It’s a long shot, to be sure—the options are cheap for a reason—but we judge that the prospective reward is worth the obvious risk.”

Can you help me understand on what financial instrument he would have traded options on...specifically what is the ticket symbol AND name one would enter in his trading platform or yahoo finance ?

Thank you

 

[xandman]

http://www.barchart.com/commodityfutures/Swiss_Franc_Futures/options/S6M15

 

[destriero]

Can you help me understand on what financial instrument he would have traded options on...specifically what is the ticket symbol AND name one would enter in his trading platform or yahoo finance ?

Thank you

Grant's demographic is clearly OTC product. Buying 3% upside calls was a lottery win. Kudos to the guy.

 

[Tsing Tao]

Grant's demographic is clearly OTC product. Buying 3% upside calls was a lottery win. Kudos to the guy.

I don't know if I'd classify it as a lottery win, since the lottery is pure chance. Grant wrote about the SNB having to remove it's peg back in Sept (or Oct) of last year if memory serves. He knew it was coming, just wasn't sure how long they'd hold out.

 

[ExperiencedJoe]

The timing of this guy isn't as good as mine.

http://www.elitetrader.com/et/index.php?threads/eur-chf-floor.287827/

 

[Visaria]

My respect, Mr ExperiencedJoe

 

[Visaria]

http://www.barchart.com/commodityfutures/Swiss_Franc_Futures/options/S6M15

these are options on swiss/dollar...not eur/chf

 

[destriero]

I don't know if I'd classify it as a lottery win, since the lottery is pure chance. Grant wrote about the SNB having to remove it's peg back in Sept (or Oct) of last year if memory serves. He knew it was coming, just wasn't sure how long they'd hold out.

No, meaning it was a lottery win in terms of R/R.

 

[traderob]

The timing of this guy isn't as good as mine.

http://www.elitetrader.com/et/index.php?threads/eur-chf-floor.287827/

You were spot on. Nice trade.