using options as stoplosses

hi
does anyone here use currency options and spot to trade currency?
eg. two weeks from expiry, buy a put option at 1.8000 gbp/usd and long the spot 1.8000 gbp/usd at same time?

yes, that's how we hedge currency

If you have a spot short trade and a long/short currency option
2 weeks before expiration, and your spot trade moves 200p
against you near the expiration date (assuming no stop/loss),
would, on average, the long currency option make up for
the loss on short spot trade (also considering cost of both
options)? Is there a software program available that provides
this information? If so, what is it?

Merlin is the option king! He will be more of help in regards to your question.
Ask him...
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