Euro stuck in riddle as non directional trend on cards; hedge using iron condors

EU Current Account printed at 18.6 billion against forecast at 26.1 billion as reported by ECB.

Highlights of today's events that may impact on Euro:

• ECB Monetary Policy Meeting Account
  
  
• EU Consumer Confidence
  
  
• ECB President Draghi's Speech: ECB President Draghi has confirmed earlier QE doing its job but points out if inflation target remains in line with the target - €1 trillion in bond purchases in under stress that has to be closed.

Iron Condors come into rescue in non directional trend:

The iron condor strategy can also be visualized as a combination of a bull call spread and a bear call spread.

How to execute: As shown in the figure the hedger should attempt to form this multiple leg position by selling an OTM Put along with buying an even lower strike OTM put, simultaneously selling OTM call along with buying another even higher strike OTM call.

Options expiration month should be same on all contracts.

This results in a net credit to put on the trade.

The iron condor is a limited risk, non-directional option trading strategy that is designed to have a large probability of earning a small limited profit.