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EUROPE SUMMARY: Bund Downside

OPTIONS

A few trades of note Wednesday, of which Bund downside appeared to be a bit of a theme. We saw RXU0 176.50/176.00/175.50 put fly bought for 11 in 1.5k - which a desk noted may be a short-term punt on Bund downside, given that expiry is this Friday.

Earlier we saw a 3-way downside Bund structure: RXV0 172.00/170.50 put spread bought in 5k vs selling 5k RXV0 176.00 calls, net received 2.5 (delta -0.30). While a little longer-dated (October), this expires in 37 days.

Euribor / Short Sterling trades included:

  • 3RU0 100.375 put v 0RU0 100.375 put bought for 1 (in terms of the 3RU0) in 4k
  • 0RV0 100.50^ sold at 5.5 in 2k
  • LZ1 100^ trades 28.5 in 1k
  • LM1 99.75/99.50/99.25/99.00 put condor bought for 0.75 in 11k all day
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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