[expat2]

I sat with FXF and EUO for about 2 years waiting for this to happen. It seemed inevitable.

[SAJ]

That's the problem with "inevitability". One has exactly no idea when the "inevitable" will occur. It always does, of course. What precisely is the threshhold of patience, eh?

When the dust from SNB's move settles in a week or so, I think it is almost surely correct to write EUR puts, perhaps 4 or 5 handles out of the money, and pocket the premium. For SEVERAL months, unless the psychos at ECB decide to do a Bernanke and print the hell out of Euro.

Frankly, just now, I'd much rather sell coffee puts. Look at the 160 March puts expiring 2/13, for example.

Good trading to you!