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EUROPE SUMMARY: Short-Sterling Upside

OPTIONS

Despite broad-based risk aversion in European markets, the options space was relatively quiet. The main theme was renewed Short-Sterling upside in size: LM1 100.25/50/62 broken call fly, bought for up to 2.25 in 28k, and LM1 100.25/100.375/100.50 c ladder, bought for 1.5 in 13.5k. Those both have Jun21 expiries, with the underlying trading today at 100.05 - suggesting further UK negative interest rate speculation.

Other options flow included:

  • OEX0 134.75/135.00/135.25 c ladder, bough for -3/-5 in 2k
  • RXZ0 182.00/185.00cs, bought for 3 in 2.75k
  • OEX0 134.75/135.75 strangle sold at 20 x 1.5k
  • ERZ0 100.50c, bought for 4 in 3.5k (ref 100.52)
  • 0RZ0 100.50 call v 3RZ0 100.50 call, sold the mid at 3 in 2k
  • LM1 100.25/100.50cs vs 0LM1 100.12/100.25cs, bought the front for -1.5 in 3k
  • 0LH1 100.12/100.25/100.37c fly, bought for 2 in 2.5k
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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