I have never traded options on currency futures so I have a question:
Below is a quote for the Sept 0.92 Call option for the CAD.
CAD - Futures Option - SEP09 - 0.92 - CALL - GLOBEX - USD - 6CU9 - Bid 0.0067 - Sell 0.0072
To buy it will cost $720.00 and break even is 0.9272 for the CAD future contract. If the CAD future goes to 0.9300 at expiration then the option is worth $1000 - for a $280 profit. Is this correct?
Below is a quote for the Sept 0.92 Call option for the CAD.
CAD - Futures Option - SEP09 - 0.92 - CALL - GLOBEX - USD - 6CU9 - Bid 0.0067 - Sell 0.0072
To buy it will cost $720.00 and break even is 0.9272 for the CAD future contract. If the CAD future goes to 0.9300 at expiration then the option is worth $1000 - for a $280 profit. Is this correct?