Options Trader Bets Japanese Yen ETF Will Climb Higher By January 2025
Portfolio Pulse from Lisa Levin
Invesco CurrencyShares Japanese Yen Trust (NYSE:FXY), an ETF that tracks the Japanese yen, traded higher on Thursday. The ETF saw more than 8x its average daily call volume. A buyer purchased 1,180 of the January 2025 66-calls at an average price of $3.77 per contract. The trader expects FXY to trade above the $70 mark in just over a year.
September 08, 2023 | 12:38 pm
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POSITIVE IMPACT
Increased call volume and a significant purchase of January 2025 66-calls suggest bullish sentiment for FXY. The trader expects the ETF to trade above $70 in just over a year.
The increased call volume and the purchase of January 2025 66-calls at an average price of $3.77 per contract indicate a bullish sentiment for FXY. This suggests that the trader expects the price of FXY to increase and trade above $70 in just over a year, which could potentially impact the ETF's short-term price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100