How Can You Use Options To Hedge Against A Declining Dollar?

Scott Nations of NationsShares shared his thoughts on using an ETF to hedge against a declining dollar. With the Fed vowing to keep rates low, Scott suggests buying Sept 23 puts in the PowerShares DB US Dollar Index Bullish ETF (UUP). See his explination in the video below:

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1. The U.S. Dollar Weakness Has Investors Looking To Hedge With Currency ETF’s
2. The Dollar ETF Gets Some Bullish Action In The Options Pit
3. Elliott Wave Theory And A Volume Spike Prove Bullish For The US Dollar ETF (UUP, UDN)