/EUROPE SUMMARY: A few trades of interest...>

OPTIONS: /EUROPE SUMMARY: A few trades of interest Tuesday:

- On Euribor, we saw adding to a flattening view via ERU0 100.375/100.25 p/s vs

0RU0 100.375/100.25 p/s, bought front for 0.25 in 14k  (25k over past week).

- In Bunds, looking for a big backup in yields by August expiry, from -0.43% to

mid -0.20s, in 5k RXQ0 (Aug) 173.50/172.50 put sprd bought for 20. Apart from

those, we saw the following (incl lots of Sterling put selling):

** EGB options flow included:

* DUQ0 112.10/20/30/40 c condor, bought for 2.5 in 2.5k

* DUU0 112.40/112.60/112.70 call ladder sold at flat in 2k

** Euribor options flow included:

* ERU0 100.37/100.25ps vs 0RU0 100.37/100.25ps, bought the front for 0.25 in 4k

* 0RU0 100.37/100.50cs vs 3RU0 100.37/100.50cs, bought the mid for 2.75 in 3k

** Short sterling option flow included:

* LU0 99.75 puts sold at 2.25 in 13.5k

* LZ0 99.75 puts sold at 4.75 in 19k

* LU0 99.87/100.00cs vs 99.625p, bought for 1 in 5k