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Eurodollar/Tsy Options Roundup, Myriad Put Spd Sales/Unwinds

US TSYS
FI option option trade was dominated by put spread selling/position unwinds Thursday as underlying rates reversed Wednesday's post-FOMC "relief rally" when it was deemed Chairman Powell was not overly hawkish by not keeping 75bp rate hike chatter alive.
  • Tsy futures extended session lows after gaining briefly on BoE dovish hike annc. Bond yld surged to 3.2066% high -- late 2018 levels as curves bear steepened: 2s10s tapped 37.390 high, well off pre-FOMC inversion, the 5s30s spd hit 5.031 high.
  • Aside from unwinding puts/put spds seeing pick-up in call buyer fading sell-off in underlying.
  • Variations on the theme, Block sale of -50,000 Sep 97.25/97.50 put spds, 14.0 followed by myriad June, Sep Dec and March put spd sales, various strikes.
  • Aside from unwinding puts/put spds seeing pick-up in call buyer fading sell-off in underlying: 28,000 short Aug 97.37/97.62 call spds, 2.0, while Treasury options saw buy of 11,500 TYM 118.5 calls, 44 vs. 118-10.5.
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