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FX put option mistake


Snail

Question

Just made a terrible mistake. Opened a put option to expire in June on usd/cad.

not realising the sell price was at 0 (buy is currently at 8). Will this value actually increase at any point if the usd/cad moved in my favour? 

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Thanks for your reply. I’ve just realised the actual error I’ve made. I opened a 12300 strike price option instead of a 13300 as intended 🤦‍♂️

Ill try giving IG a call but I can’t see them reversing the trade.

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46 minutes ago, Snail said:

Thanks for your reply. I’ve just realised the actual error I’ve made. I opened a 12300 strike price option instead of a 13300 as intended 🤦‍♂️

Ill try giving IG a call but I can’t see them reversing the trade.

As the 12300 is so far OTM they may scratch that - the prem hasn't moved.

The 13300 is obviously ATM now with prems all over the shop so I doubt they'd fill you on an old price, especially as market has pulled off since then so the prem on puts should have increased.

But still - I'd be surprised if they didn't reverse the first one.

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