Borrowing an idea from Tastytrade. I saw a segment where they talked about currency options and that FXE in particular, while having a low nominal IV, had an IV rank of above 60. It’s probably one of those trades that won’t make you a lot of money, at least from a ROC % angle, but won’t kill you either because the underlying typically doesn’t have huge moves (as a %). Currencies are also relatively uncorrelated with the major averages so there’s the diversification angle. Because of the low premiums you have to sell very tight strangles (or straddles) to get anything. Putting this one on for July and will watch it closely.
Sold $FXE Jul 113/114 strangle @ 2.14 with FXE at 113.13. Breakevens are 110.86 and 116.14.