Originally Posted by
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Sold short GBP/JPY place, strike 244.78, expiry July 2nd, 2007 for 34 pips.
The prior option expired worthless. Although the calendar is a bit more active this week, I'm still anticipating that the carry pairs to keep as regular (buy on dips, range a bit, and/or break new highs). There is not any indiion of a change on the horizon. Factoring in the added risk with selling a place at these levels, I've reduced my position size by 20 percent in the last degree. Tuesday, Wednesday, and Thursday ought to be intriguing for JPY pairs. Retail sales, industrial production, and inflation data have been set to be released.