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How to create synthetic currency option

  1. Hi All,
    I am very new to options (this would be my first ever trade).

    I am looking to create a EURGBP Call with a strike of £0.95 to €1.

    How do I do this ?

    I know it can be done with EUR/USD and GBP/USD options - thing is I dont know how and cant find any guidance online.

    Hope someone can help.

  2. Do you mean using Globex futures options ?
    The apparent solution will be long EUR calls and short GBP calls
    ratioed. It won't be very accurate, but since both calls are USD based, you can calculate the ratio based on the delta of both calls.

    I haven't done this, but that is where I would start.
  3. you're going to get "pounded".