Well, it has just been 10 days ago that our option trade recommendation took place, please see below weblink for the evidence of yielding/payoff patterns.

http://www.econotimes.com/FxWirePro-Are-vega-instruments-luring-you-amid-spiking-IVs-in-GBP-USD-ahead-of-BoE-monetary-policy-Flirt-with-option-strips-bidding-2w-skews-for-certain-yields-443448

The option strip strategy had approximately cost us at around USD3,255.46, where at 1.2178 positive cashflows at around USD4881.47 which is almost more than 100% in just 10 calendar days.

So, if at all you bought and executed this strategy with the American style of options that allow the holders to execute the options on and before expiration, by now, the strategy has derived cent percent yields which a naked married put strategy wouldn’t have earned. An extra leg of long on put has earned us double the profits that cover the cost of long on call as well (refer payoff nutshell available in above link).

Having mentioned that, the crux of the matter is that - to make our trade successful, a mere analysis is not sufficed. Even if there are 7 out of 10 successful trades, there could still be the chances of negative or nill cashflows when you do not have the proper trades placed. By mentioning so, 3 failure trades are quite enough to wipe off the results of successful trades.

For now, the Brexit-related threats for the UK economy beyond initial confidence are yet to develop, and accordingly, the scale and scope of BoE’s easing would cap GBP.

We still foresee the major downtrend likely to resume and evidence further slumps ahead as the approach of the March 2017 Brexit deadline, Supreme Court findings and end-year survey and hard data are likely to attune markets to harsh Brexit realities.

Consequently, we have analyzed in our technical trend of GBPUSD and advocated bearish trade recommendations under as the major trend still seems robust as price, volumes, and OI move in tandem, while trend and momentum indicators are substantiating the selling pressures.

On daily charts, price dips may extend up to next strong support of 1.2101 upon bearish convergence on DMAs (7DMA crosses below 21DMA which is a bearish convergence).

Hence, we again reopen the same option positions to construct strips as stated earlier.