Buy a call and put at exactly the same time on GBPUSD. Wait to make profit and shut the Dollar. Repeat. Is it that simple? I have seen a statement from a very successful set of FX options traders who do exactly this. Over and over again. Several times a month these traders input GBPUSD options hedges. I feel some hedges are calendar hedges but some appear to be plain hedges. Going short and long . It appears the volatility in GBPUSD will outstrip the premiums paid to enter the hedge. These people which are running this hedge fund are noted as Risk Manager of the Year with a widespread commodities magazine.
Jeff Swanson