News Straddle: Where did I go wrong?

S8 - Strategies straddles
1

Hello,

Last night I set up a straddle on the News coming out this morning on GBPUSD and I’m pretty sure I set my TP orders on these at the wrong spots, but if someone could just take a quick glance at this and let me know. In the end, It worked out but I know I left money on the table.

Thanks. Peter

2

You can use the straddle portion of the calculator to see where the take profits should be set for a 1:1. It looks like the straddle by itself would have lost money.

3

Thanks WMiller, I will take a look at that.

4

I looked at the calculator, thanks again WMiller for the suggestion, and this is what I come up. It would have expired $27 ITM If I left it alone, am I reading that right? Expiry price was 1.46765 and my breakeven on the bottom straddle was 1.47011.

5

This is what I see with those numbers.

6

Thanks WMiller. My mistake was not using the Straddle/Condor Calcualtor, when I did a straddle this afternoon on the FOMC news, it all came together thanks to that Straddle/Condor calculator.

Peter

7

Also use the news calendar under news at the top