RE:RE:RE:GBP strengtheningGuidance is at 1.53. But they said AMCO surpassed guidance at 1.475 blended. So at 1.44 right now you could mitigate your downside. Maybe even buy at 1.46 strike put and sell extra 1.48 calls to pay for the higher premium.. If the GBP rallies great. They shouldn't be looking to capture upside earnings from a currency move, they should be doing everything to meet EBITDA guidance. The most important reason being the interest coverage ratio covenant. If the GBP is 1.20 what will that do to EBITDA in US terms? -- Their only answer so far is that "they have natural hedges in place". But with only 550mill GBP debt it seems to me like they are pretty exposed. That's only 20% of the overall debt!
They hedge and I am back in