We Exercised the 1.2400 CAD Call USD Put

Against our average long USD position at 1.2326

Net Gain 70 tics (1.2400 - 1.2326) = 74

Cost of the options 60 tics

Gross Gain on Capital At-risk 74/60 = 123%

We canceled the bid at 1.2275 and paid an offer at 1.2281 rolled to the del date at 1.2279

We are not 100% hedged

The average hedge rate is 1.2373 + 1.2279 = 1.2326

New Orders

Sell 50% of the hedge at 1.2375

Filled on the first order at 1.2375

Rolled out to the del date at 1.2373

Sell 50 % of the hedge at 1.2475

Buy 50% of the hedge at 1.2275

Filled on the first order at 1.2375

Rolled out to the del date at 1.2373

Sell 50 % of the hedge at 1.2475

Buy 50% of the hedge at 1.2275

Two Week Expiry 2021 - 05 - 10 (14Days)

Buy Two Week USDCAD Stangle

.1.2400 CAD Call

1.2550 CAD Put Put

Strikes 1.24 & 1.2550 (Vols 6.20 & 6.11)

Total Cost in tics CAD tics 60

50% Hedge Orders

Buy 50% of the hedge at 1.2375

Sell 50% of the hedge at 1.2625

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