Fx price gap trading strangely with options

I am trying to paper trade a strategy that involves selling an OTM put on a currency after a up gap day, neglecting the part of weather it's a winning strategy, what are my options (pun intended..) here?
1. Sell the put option on an ETF - the drawback here is that the price and vol are so low I have to sell a lot of options to receive a discent premium
2. Sell the put option on an fx index future - that involves trading the NYBOT which is 120$/month subscription

Any other suggestions?
I will be happy to share my research regarding the strategy,
Thank for chipping in...

 

The etfs gap every day as they only trade exchange hours while otc is 24/5.

 

You can also try to trade the put on currency futures itself.

 

when you see a gap, it simply means

- you are trading the wrong product.
Go and choose another product.

- you are trading at the wrong time.
You ought to be trading a few hours earlier.
You ought to be profiting from that gap.

 

PHLX trades fx options on the securities side. Liquidity is mixed, but they are available in an options-approved brokerage account.

 

That's super helpful, thanks for the info, that's another great option to sell fx option, I hope the liquidity will not reduce the performance of the strategy, but the info is very helpful

 

I have just notices I misspelled strategy...

 

Vols are at multi-year lows. EURUSD is trading at a 5-figure. USDX doesn't really trade and the spreads on PHLX are ridiculous, and again, they don't really trade. You will need to trade CME FOs or use an OTC bucket shop.

 

Thanks,
What do you mean by OTC bucket shop?

 

OTC options on spot FX.