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Eurodollar/SOFR/Tsy Option Roundup

US TSYS
Light summer volume on narrow ranges and lower implieds persisted Tuesday, Trade rotated around downside Treasury puts as underlying futures held mildly lower across the curve.
  • Highlight trade included early buy of +25,000 TYU2 116.5/118 2x1 put spds, buying one leg over for net of 0; 5Y options had 5,000 FVQ 111/111.25 put spds trade at 3.5 ref 111-21.75, 9,500 FVU 109.5 puts trade 11.5 ref 111-20.5.

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