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Another day, another session of well over...>

OPTIONS
OPTIONS: Another day, another session of well over average volumes in USD/CNY
options. Just shy of $9bln worth of contracts in USD/CNY have changed hands so
far today, well ahead of the next most traded pair, EUR/USD, with $5.6bln worth.
Hedgers appear particularly keen in USD/CNY with the offshore yuan touching the
lowest levels against the greenback since mid-December after 10 sessions of
gains. This places the spot price well above the majority of strikes due over
the next 2 weeks - potentially suggesting options traders see the recent rally
petering out in the near-term. 
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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