YCL Volume

The 2x leverage long yen ETF saw volume on Friday that beats almost all months in the fund's history.


  1. LZ, do you ever buy ITM LEAP calls, to reduce the possibility of mistimed entry and in case the reversal trends for some months? Might this context be an appropriate time to do so? TIA.

    1. Everyone has their own style. I run an "anti-fragile" options portfolio. I'm looking for a short-term move. If it stops here, I'm already at a 5x. If it can get closer to my 126 "hope" target in time, the trade will turn into something closer to a 15x. Only need another ~4% on the yen to do it. But yes, if the yen is turning a corner here and it starts acting as a risk-off trade again, then it could rally for months if deflation kicks in. Otherwise, maybe too late to chase. I don't have a long-term read yet. USDJPY reversing at 126 area and heading for 175 next is still a possibility.

    2. Thanks, LZ.