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10Y Calls, 30Y Puts

US TSY OPTIONS
Option trade looking mixed ahead midday, while underlying futures see-saw off lows with curves twisting steeper: 2s10s +6.031 at -37.132. Short end bid sees projected rate cut pricing gain slightly off morning lows: First cut looking like September 18 vs. November 7 following yesterday's CPI-tied sell-off.
  • 5,000 USK4 115/116 put spds, 34 ref 115-03
  • +10,000 TYM4 109 calls, 43 vs. 108-03
  • +10,000 TYK4 109.5/110 call spds, 3

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