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Liftoff Positioning, 50Bp June Hike Insurance

US EURODLR OPTIONS
Paper buying June put condor below, hedging for 50bps hike in addition to 25bps liftoff from Fed in March. EDM2 currently trading 99.265.
  • +5,000 Jun 98.93/99.00/99.06/99.12 put condors, 1.0 vs. 99.29/0.05%
Elsewhere, targeting five 25bp quarterly hikes starting this March through March 2023, paper adding to bear curve (Whites/Greens) steepener:
  • Update, +15,000 short Mar 98.50/Green Mar 98.00 put spds, 0.25/Greens over

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