Yesterday’s trading session proved to be fairy profitable for volatility buyers. GBPUSD passed nearly 170 points. The rally could have been more considerable but for the option barrier 1.5635. The level of volatility was not as dynamic as the rally itself. However, considering a strong recovery (more than 3 strikes up) there was an opportunity to sell the bought strategies at a fairly good price.
There were several market drivers, including the amount of UK mortgage loans, the US consumer confidence index and the ECOFIN meetings.
Today’s trading sessions are going to be rich in economic stats. First of all, this is the 2nd day of the ECOFIN meetings. Secondly, we will see eurozone countries publishing their consumer price indexes and rates of unemployment as well as the USA’s ADP national employment, Chicago PMI, pending homes index.
At this point GBPUSD is being traded around the key and secondary option levels 1.5554 and 1.5635 correspondingly.
Provided by the Department of Options,
