Forex spread betting question

[StuartHopkin]

Say I have a time option to buy $100 on the 31st October booked 6 months ago at a rate of 1.2

Lets say the rate goes down a little this month to 1.3 on the 31st.

The $100 is going to cost me £83.33 on the 31st but once i have this it is only going to be worth £76.92, a loss of £6.41.

Is it possible to reduce the loss through spreadbetting?

I am not familiar with spread betting at all but in my head I want to take over 1.250 for 10p a point?

[DungBeetle]

If you’re worried about the rate going against you can’t you exercise now?  I thought that was how fx time options work.  Otherwise it is just a forward?

[StuartHopkin]

I could exercise now at 1.32 then my loss today is £7.57 but if we get to 1.3 at the end of the month then I've made £1.16 of it back.

I'm kind of looking for a separate position to reduce that loss.

I do not think it is possible, but if anyone would know someone on here might!
The FX desk at HSBC don't have enough gambling skills!