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BLOCK, Conditional Bull Curve Flattener

STIR
  • Tone change from better conditional steepener hedging over the last 2-3 weeks, long Red Jun'25 call spread bought over the front Mar'24 call spread. Additional 10,000 in pit.
  • Block total 20,000 SFRH4 94.87/95.37 call spds vs. SFRM5 96.50/97.00 call spds, 7.5 net, Red Jun'25 over from 2121-1222ET.

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