Forex

My Mexican Peso FOREX call option is finally moving in the right direction. I have the  The XDM is the Mexican Peso against the US Dollar and the options for the  are traded at the NASDAQ’s Philadelphia exchange. My purchase price is $450 premium per call option contract and currently the options are trading at a premium over $500 per contract looking higher.
The interesting thing here is that the XDM is currently trading at around $78.65 as of this writing. So, the call options are in the money and actually have a intrinsic value of $565 per contract. But given the vagaries of the Mexican economy, the market does not give it much premium. Hence the call option premiums are riding around the intrinsic value. The good news in this is that with every $1 move in the XDM index value, my call option premium will at least move by $100 premium per contract. That will equate with at least a 20% gain for every $1 move in the Index value.
The leverage of options at play again!