FXE is the popular ETF to use for the Euro.
According to Reuters, Germany's Angela Merkel on Friday did not offer Greece any commitment of financial assistance. Merkel said that Germany "could help Greece with its expertise and in other ways".
"Asked about media reports of a potential rescue plan being worked on by
European nations, Greek government officials said they were unaware of any such discussions or plans. Greece insists it has now done all it can. It says
that if its latest euro 4.8 billion ($6.5 billion) austerity package, which was
approved by Parliament Friday and described by Merkel as an "inordinately
important step", doesn't win the full support of the EU and the markets, it
could be forced to seek help from the International Monetary Fund".
The Euro has recovered slightly in light of the perceived good news. Whetehr te Euro recovers further or crashes here is anyones guess and the reason we use straddles. Here are the updated Euro straddles for March, April, and June:
Computed with StraddlesCalc Tool. The moves required are relatively small, but please keep in mind these are currencies, which normally move little compared to stocks. The position will be profitable as long as FXE moves at most the indicated amount. The actual moves required are smaller as there is still time to expiration.
Note: You may receive technical analysis and alerts of these stocks, sent automatically to you, by entering the symbols in the Technical Trend Analysis Tool, (powered by INO).
Please do your own due diligence. This is not advice. Options are very dangerous and may cause 100% loss.