Spot at Expiry = 1.7403. 

We Exercised the 1.7697 The 1.7306 expired out-of-the-money

The % gain is (1.7697-1.7403)/1.7697 = 1.66%

The Gross Gain is 1.66%/.83% = 200% gross gain on Capital-at-Risk 

Trade Idea: 1-Mos GBPCAD Put Spread 

One Month Expiry 2019-04-025

The is the trade we would like to put on based on a spot of 1.7675

Buy 1 month ATM GBP PUT CAD CALL Sell 25 Delta GBP PUT CAD CALL 

Spot 1.7675

Strikes 

BUY GBP PUT CAD CALL  176.97 10.9 vol  cost 1.43% 

SELL GBP PUT CAD Call 1.7306   11.6 Vol Receive  .60% 

Total Cost is 0.83% of Face