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EUROPE SUMMARY: Short-Sterling Downside For A Change

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Saw a bit more downside today than we've seen recently in Short Sterling (much recent flow of interest has been to the upside). This included 0LF1 100.00/99.875ps 1x2, bought for 2 in 3k, and same strikes for 0LH1 for 1 in 9.5k; we also saw LM1 99.87/99.75/99.62p fly, bought for 1 in 2k, and a flattener, LF1 with LH1 100.12/100ps versus 0LF1 with 0LH1 100.12/100ps, bought front put spreads for 3 in 5k.

Other flow of note today included:

  • LH1 v LF1 100.00/100.125 call spread bought for 0.5 in 4k (+H1)
  • LH1 100^ v 0LH1 100.125/100.50 call spread, sells the straddle at 9.5 in 5k
  • IKZ0 142.50p, sold at 65 in 3.5k

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