Probably the best advantage FX options provide is that you can fine tune your strategy and trade in all market conditions with much less risk than the other traders. Implied volatility is very low during the last few weeks, which means that the prices of the options are cheap. This allows buying options with larger expiries and having more staying power. With the same amount of risk you have you can wait much longer and have much better probability to make profit.

With the example presented on the chart below, I will clarify what I mean. I trade my morning strategy usually with options expiring at 8AM London time. This means that for 1-2 hours period the price must move in either direction. Usually the cost of the strangle is between 12 and 16 pips. On 21/07 I could buy the 1.7180/1.7210 strangle (expiry 8:00) for 16 pips or 1.7070/1.7120 strangle (expiry 12:00) for 17.1 pips. I decided the second strangle because it was just 1.1 pips more expensive but covered the London open, when the volatility is increasing. As usual, I closed the 1.7070 ladder when it was ATM and took 27.9 pips net profit.