EUR/USD: options markets points to further upside
|In view of CME Group’s preliminary figures, activity for the 6EU7 contract expiring on August 4 shows OTM (‘out of the money’) Puts rising by 798 contracts vs. an increase of 68 contracts ITM (‘in the money’).
In addition, ITM Calls dropped by 74 contracts and OTM Calls raised by 538 contracts. The Put/Call ratio moved to 1.03.
EUR/USD keeps the bullish outlook intact
Another increase of ITM Calls plus cheap insurance against an unexpected pullback in EUR/USD via a build in OTM Puts keeps sustaining the view of extra gains in the near term. Sentiment among traders remains (very?) bullish and the up move is not giving any sign of exhaustion, at least in the very near term and despite spot navigating overbought levels.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.