Profitting from the US Dollar moving up or down

Currencies continue to be extremely volatile with the chaotic situation in Greece and Europe in general. There are many ways to play the USD. Through the Euro, through gold, or through direct ETFs such as UUP.

Below are straddles for UUP, for expiry in May and June. These allow an investor to profit if UUP moves up or down, as long as it moves the necessary amount.

The positions were calculated with the free StraddlesCalc tool, which shows the maximum moves required. For May (2 weeks), they are about 2.7%, and for June they are about 4%, at most.