rade is the loss of upfront premium paid (14.25% of payout notional amount) Buy a 2 month 1.1350 Digital Put (payout EUR 100k) versus Selling 1.2300 Digital Call (payout EUR 100k) -> Zero Cost This trade is zero cost The buyer of the digital put gets paid EUR 100k if at expiry EURUSD is below 1.1350 and will