We are the FIRST Iraqi Dinar trader to offer our clients CALL Options on the New Iraqi Dinar . This gives you the ability for a relatively small amount of money to purchase in blocks of 1 Million Iraqi Dinar notes in the current 25000 Bill denominations at the STRIKE rate of US$ see the option you are buying for the latest Strike rate (rate changing constantly) within the period from now until the expiry date of the option or the period it can be renewed for . The selling rate is the premium over and above the Strike rate that the Dinar must appreciate to in order for you to make money , if it does not or only makes a partial gain , you lose some or all of your money . If it goes above this total rate you stand to gain a lot for you small initial outlay and if it falls substantially all you will lose is the initial call money . You can EXERCISE the right to buy the call AT ANY TIME during the duration of the call on full payment of the STRIKE PRICE . (Or the STRIKE PRICE you bought the option at - this changes all the time as this is a very volatile market !)Some important points :-
- This is a HIGH RISK investment and you could lose all your money , only buy what you can afford to lose - the higher the risk of course the higher the return
- A worked example - STRIKE : $1886 for 1 Million New Iraqi Dinars in 25000 notes - term FEB2010 - Selling rate US$88.65. To make money the Dinar needs to appreciate to over US$1886 per million before February 15th 2010 , if it does not , you lose all or part of your initial CALL money . BUT , FOR EXAMPLE if it goes to US$2000 per million , you make US$114 on your initial outlay of US$88.65 - an AMAZING return of 129.59% on your initial CALL outlay and of course you can EXERCISE the option and pay us in full the remaining US$1886 at any time and we will deliver the Dinars to you.
- For payment at this stage we are accepting payments via Credit card on our secure servers - when ordering via Card see the relevant Option month , followed by the quantity and price we are offering when you decide to buy (IGNORE SHIPPING AS WE WILL NOT SHIP ANYTHING - A Call Option is simply the right to buy at the STRIKE price , once you pay this in full we will ship the Dinars if you decide to EXERCISE the Option).
- The rates offered are subject to change at any time due to market conditions.
- IMPORTANT - The options are for the current legal currency in Iraq , the new Iraqi Dinar (NID or IQD) , if there is any change to the currency or zero lopping , your option will be adjusted accordingly to reflect the new currency , thus , if for example the Dinars are redenominated for any reason , we will adjust your call options accordingly to reflect the new currency denomination , for example - if 3 zeros are removed from the currency (REDENOMINATION) , we will adjust the options to reflect option quantities of 1000 Dinar Option calls - but the Final price and the premiums should remain the same.
A worked example of a currency change or zero lopping/REDENOMINATION - You buy an option today for 1 Million current Iraqi Dinars for US$88.65 at a strike price of $1886 , the Central Bank of Iraq decides to lop off 3 zeros(redenomination) from the currency - your option will now automatically be converted to a call option for 1000 New Dinars (that is 1 000 000 / 1000 = 1000 New Dinars) , so you will not be entitled to 1 million of the New Dinars , only 1000 as three 000´s were removed only from the currency . The strike price you purchased at however will be the same , so if it was $1886 to take possession of 1000 of the New Dinars you will need to pay us the $1886 and then we will Fedex you the New Dinars . If there is any currency change or adjustment we will adjust the option accordingly and inform you via email . Obviously if the currency rises naturally without any adjustment for inflation by zero lopping/Redenomination you will take full benefit of the rise . When you purchase an option with us , we purchase the physical currency , therefore any gain from this is passed on to you . Obviously there is no gain on any zero lopping as technically the currency has not fallen or risen , we emphasize this point as we believe that zero lopping/REDONOMINATION is a real possibility to combat inflation , if this happens all option contracts will be adjusted . Again if you have ANY questions feel free to email me :)
To take physical possession at any time you just need to notify us and pay us the strike price of $1886 and we will Fedex or alternative available courier the Dinars anywhere in the world. You are also welcome if possible to pick them up from our associate in Amman , Jordan and we may even be able to transfer teh funds into a Warka Bank account if you have one , but this is subject to our discretion . Our primary form of delivery at this point remains via courier.
- We reserve the right to terminate the monthly roll-over agreement at any stage and then your option will become fully payable at the strike price you purchased it if you wish to take delivery or you will forfeit the option if you fail to make payment of the strike price.
- If the currency is pegged at a higher rate or revalued , then you will still have the right to purchase at the relevant strike price you paid , the amount that you bought the calls at and obviously this is where you can make money out of the leverage this type of purchase affords - email any questions to me at : options@iraqidinars.com , to clear up any misunderstandings .
- A great advantage of buying the right to Dinars is that if there is any currency change you do not have to return the Dinars to us to change , you automatically have the right to the New Dinars and you can take physical possession at any time on payment of the strike price or keep rolling them over at the current rate of $20 per month. Your capital layout is far less and you are covered against sudden currency changes which can happen in Iraq.
- Please note that due to the current extreme market conditions we are experiencing we reserve the right to terminate the monthly roll over option at any time and call the option at the next monthly expiry date , at which point you have the option of exercising the option and paying the strike price you bought the option at or losing the option.
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