Are you asking what your best option for playing it is or are you asking what option/combination of options you should trade? If it's the former, then just buy cable If it's the latter then there is no way someone could give you an answer for that without knowing the IVs that your broker is quoting at.
The 7/30/04 1.8120 OTC call(atm) has a ThVal of 264 pips. Buy it here and you've got a 7-bagger at 2.00 on GBPUSD
Yup, Fenics. It's going well but the hours are a bitch. All the volty occurs in the overnight session.
Hey Riskarb, Who are you trading with? I've been giving a look to OTC options with my spot broker but they're ridiculous. Quoting basic options takes like fifteen minutes and by the time they provide the quote they tell you it's no longer valid because the spot is off 3 pips since they quoted it.