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%
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!