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Could you please help to understand trading jargon in this tweet.

Thanks in advance.

For non twitter users: Bookie pushing 5-delta (strike of 8) 2 month TRY puts. 0.6%

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Current USDTRY is about 5.7. The jargon means this: The strike of a 2 month USD Call/ TRY put corresponding to a delta of 0.05 is 8, and it costs 0.6% of USD notional.

TRY to plunge is what might be implied!

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  • $\begingroup$ That's a 40% depreciation in 2 months. The person who is "pushing" this investment is very pessimistic on Turkey's economy. $\endgroup$ – Alex C Apr 13 at 20:44
  • $\begingroup$ or he is gambling? :) $\endgroup$ – TryingtobeQuant Apr 13 at 20:46
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    $\begingroup$ TRY (Turkish yeni (new) lira) is the ISO code for Turkey's currency. $\endgroup$ – Dimitri Vulis Apr 14 at 0:24

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