Jon Najarian's Brexit Options

This is a binary event call....but keep in mind, with that super-high IV, much has already been priced into a "leave" event. That being said, selling the straddle makes the most sense here.
Even with a "leave" vote, there is still a chance this could win or at least break-even.
BTW: nice chart Gimp !
 
I think the move has been done already, ES is up 20 pts overnight, when the actual results come in, we might sell off.
 
OptionGuru said:
My play would be buying call options on FXB (British Pound ETF)

  • FXB at $143.87
  • 52-week range $135.67 - $154.85
  • FXB July 15, 2016 145.00 call is $3.60
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  • Long puts would obviously have been a better trade.
  • FXB July 15, 2016 143.00 put up about 3.6x from $2.60 to $9.50.



:)
 
OptionGuru said:
What a ridiculous comment.



:)
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