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Eurodollar/Tsy Options Roundup, Puts Rising

US TSYS

FI option trade turned more mixed Wednesday as underlying futures swung back lower -- to near the middle of the week's range (10YY back over 3.0% at 3.0289% +.0553).

  • Limited volumes showed a pick-up in downside put structures compared to better upside call (two-way) trade anticipating direction the last couple sessions.
  • Salient SOFR options included a buy of +10,000 SFRN2 97.37/97.50 put spds, 2.25 ref 97.595. Eurodollar options included a buy of 20,000 each Dec 95.75/96.50 put spds, 14.0 and Mar 95.75/96.75 put spds, 38.0 ref 96.525. Treasury options saw several smaller put spd buys in 5s, 10s and 30s after early sale of 5,000 TYN 118.75 calls at 25 and -10,000 FVN2 112.5 calls at 15 ref 111-30.

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