Just an over shootThe Canadian Dollar has been weak against the US Dollar for the last six month. And Dollarama pays the Chinese Manufactureers in US $ but sells in Can $. Now this trend maybe reversing because the trade deal seems done. But the US/ China "trade war" is not. Like it or not Canada and Dollarama is caught in there. It creats a certain unpredictability in the supply chain. Remember retail is already placing orders for next spring.
My predicament is that there is no premium in any option contract.