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EUROPE SUMMARY: Big Sterling Flies Ahead Of The Weekend

OPTIONS

A fairly standard day in options trade, with a smattering of 2021 rate cut plays in Short Sterling the highlight of the morning (incl LM1 100.12/100.37cs, bought for 4 in 3k, and LH1 100.00/100.25cs, bought for 4.25 in 4k). In late trade though saw a very large purchase of a call fly 'strip' (ie both flies bought): 0LH1 + 0LM1 99.75/99.875/100.00 bought for 6.25 in 100k. Note underlying = 100.000/100.005.

  • RXZ0 180.5/183cs, bought for 3.5 in 4k
  • RXX0 174.50/174.00ps 1x1.5, bought for 3 in 1k
  • DUZ0 112.30/20ps, bought for 4.25 in 2.5k
  • RXX0 173.50/172.50ps, bought for 11.5 in 1k (ref 174.82)
  • LH1 100.12c, sold at 1.75 in 2k
  • LZ0 99.875/100.00cs, sold at 5 in 5.5k (99.92)

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