The US dollar is getting some respite this morning from the last weekââ,¬â"¢s heavy decline. Weaker than expected TIC data released earlier this morning helped the Greenback, but rumors persist of further sell orders capping the market on the upside. A correction is due given the recent sell-off but the market continues to sell into any rally. Economic data released this week includes PPI, CPI and Philly Fed.

Volatilities continue to be well bid with EUR calls and JPY calls trading at a premium over the respective put options.

OPTION TRADE IDEAS

Below are some strategies, which depending on your view might be applicable. Please bear in mind that all of these trades can be applied to any of the currency pairs, which may be traded. All barrier levels, strikes, triggers, payouts, and maturity dates can be tailored to each individualââ,¬â"¢s views.

Kathy Lien is the Chief Currency Strategist at FXCM.

Disclaimer: Transactions in options carry a high degree of risk. Purchasers and sellers of options should familiarize themselves with the type of option (i.e., put or call) which they contemplate trading and the associated risks. You should calculate the extent to which the value of the options must increase for your position to become profitable, taking into account the premium and all transaction costs.