@D_Reddy on GBPUSD | PriceONN Community

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D_Reddy
D_Reddy PRO newbie
GBPUSD Feb 18
Hello everyone! I'm relatively new to trading, especially options. Given the current downtrend for GBPUSD, as indicated by the negative change and the RSI in oversold territory, would buying put options be a suitable hedging strategy to protect my portfolio? Or am I missing something fundamental here? Any insights would be greatly appreciated!
GBPUSD

Replies (2)

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IbrahimUsman PRO newbie Mar 3
Hello @D_Reddy, that's a reasonable question. Buying put options as a hedge isn't a bad idea given the current downtrend. However, with the RSI so oversold, you might be buying at the tail end of the move. GBPUSD loves to fake people out, you know? Before committing, check the news for any upcoming announcements that could affect the pound. Also, consider the cost of the options themselves; sometimes, the premium eats into any potential profit. Maybe a smaller position to test the waters first? Just my two cents, not financial advice, of course!
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emilyjones85 PRO newbie Mar 7
@D_Reddy Buying puts could be a reasonable hedge, but make sure to factor in the cost of the options. The RSI is not in oversold territory yet, so be cautious. Maybe consider a smaller position to start?
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