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JGB TECHS

(U1) Tilted Higher

AUSSIE 10-YEAR TECHS

(U1) Uptrend Weakening

US TSYS SUMMARY

Bullard Kickstarts Reflation Unwind Theme

AUDUSD TECHS

Fresh 2021 Lows

EUROPE SUMMARY: Short-Sterling Upside

OPTIONS

Main European options theme of the day - and especially in the morning - was for Short-Sterling upside (rate cuts by early 2021 in particular), plus some vol plays for good measure. Options flow today included:

  • LG1 100.25c, bought for 0.75 in 25.5k
  • LG1 100.25c, bought again for 0.75 in 2k (27.5k total)
  • LG1 99.87/100^^, sold at 5.5 in 4k
  • LH1 99.875p/100.00c strangle, sold at 6.5 in 4k
  • LH1 99.875/100.00/100.125 call fly bought for 4.75 in 4k
  • LH1 100.00/100.12cs 1x2 trades again for 1 in 1.5k (3k total bought).
  • LM1 100.00^ vs 100.125/100.25cs, sold the straddle and receives 13.5. in 5k (adding position)
  • LM1 100.12/100.37cs 1x1.5, bought for 3.5 in 10k (ref: 100.025)
  • 0LF1 with 0LG! 100.12/100.37c strip, bought for 6.5 in 5k
  • 0LG1 100.00/100.25cs 1x2, bought for 4.5 in 5.5k
  • RXX0 176.0/176.5/177 c ladder, bought for 6 in 1.2k
MNI London Bureau | +44 203-865-3807 | tim.cooper@marketnews.com