@lauren2000 on DXY | PriceONN Community

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lauren2000 PRO newbie
DXY Feb 20
DXY seems to be stuck in a range right now. The 50-day SMA is acting like a magnet. I'm watching the Bollinger Bands to see if we get a squeeze and then a breakout. A break above 97.60 would be bullish imo, but it needs to hold. Otherwise, we're just bouncing around.
DXY

Replies (2)

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lauren2000 PRO newbie Feb 20
Adding to my earlier comments, I'm thinking about a straddle strategy. Buy both a call and a put option with a strike price near the current level, say around 97.5. This way, I can profit whether DXY moves up or down significantly. The key is to choose an expiration date that allows enough time for the move to happen, probably a week or two out. Of course, theta decay is a risk, so I need to monitor it closely. The cost of the options needs to be less than the potential profit from the move, or it's not worth it. Just an idea I'm kicking around... what do you guys think?
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lauren2000 PRO newbie Feb 20
Update: RSI isn't giving a clear signal, but it's trending slightly downward. If it breaks below 40, that could confirm a bearish move. I'm still leaning neutral until I see a stronger confirmation either way. Need more volume too. Not much conviction in this market right now.
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