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JGB TECHS

(Z1) Bearish Trend Condition

AUSSIE 10-YEAR TECHS

(Z1) Bearish Price Sequence

AUSSIE 3-YEAR TECHS

(Z1) Off Recent Highs

US 10YR FUTURE TECHS

(Z1)‌‌ Support Appears Exposed

EUROPE SUMMARY: Euribor's Day

OPTIONS

Last-minute speculation on Sep20 contracts with expiries Friday went quiet today after a few active sessions. Instead today we saw a few Euribor trades, mainly after the daily fixing which saw 3M Euribor fall to an all-time low (-0.4910%).

This included a midcurve call spread targeting upside (0RU0 100.50/100.625cs, bought for 1.5 in 2k (ref 100.495)), a call condor vs put spread (0RH1 100.37/100.50/100.62/100.75c condor vs 0RH1 100.25/100.125ps, bought for 7.25 in 2k), and a call spread seller (ERU0 100.37/100.50cs, sold at 10 in 10k). Prior to the fix we saw a longer-dated call fly buyer (ERM1 100.37/100.50/100.62c fly 1x3x2, bought for 1.75 in 4k).

Other European options flow Thursday included:

  • OEV0 135.50/136/136.50 c ladder, bought for 6.5 in 3k
  • RXX0 177.50/179.50cs 1x1.5, bought for 8.5 in 1k
  • RXV0 172.00 puts, sold at 35 in 2.5k
  • LM1 99.75/99.50ps, bought for 1 in 8k
  • LH1 100.00/100.125/100.25 c ladder, bought for 1.5 in 5k
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com