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EUROPE SUMMARY: Eyeing Negative UK Rates?

OPTIONS

Highlight of Friday afternoon (indeed the entire session) was LH1 100.25/100.375 call spread v 99.94 5d, bought for 0.75 in 25k - looks like a large bet on negative rates in the UK by early 2021.

Earlier in the afternoon, saw a familiar sight this week in Schatz options: 15k DUU0 112.20/112.40 call spread bought for 3.5. A source quotes market makers noting that 45k of this c/s has been bought this week alone. Interestingly was sold earlier at 4 in 4k.

Other options flow included:

  • RXV0 173.5/176.5 RR, sold the put at 8.5 in 1k
  • DUU0 112.10/112.00/111.90 p fly, bought for 1.5 in 1k
  • ERZ0 100.50^, bought for 8.25 in 1k

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