I have been doing a straddle on this each month, but I have been placing the straddle at least 15 pip +/- the price , with 20 seconds to go. The other problem is my broker widened the spread to about 20 pips on the Eur/$ for the first couple minutes.
Next month I am just going to wait it out and when I see the spread start to get back to normal then place a 7 pip +/- spread. I have seen it retrace approx 50-60% after 2 min. the last couple releases. My issue is that once I see a profit I have been closing it out. Usually before the next 5 min candle forms. I need to start setting a SL and use a Trail Stop it to let it run for a while.