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Free AccessFX options activity is slightly ahead of....>
OPTIONS: FX options activity is slightly ahead of average Wednesday, largely led
by more exotic markets, with USD/INR and USD/HKD options trades well ahead of
usual levels.
-Call strikes at 8.00 in USD/HKD earlier this week raised interest (seen as a
bet on USD/HKD potentially breaking the peg of 7.85) and that trend continued
well into Wednesday, with well over $2bln in 7.85 calls trading in
Asia-Pac/early European hours. $300mln in calls also traded with strikes north
of 7.85, following the theme after the HKMA were forced to intervene and defend
the peg to the tune of HK$4bln overnight.
-Elsewhere, AUD/USD volumes are slightly ahead of average, with the highlight
appearing to be a $0.6960/0.7145 short strangle, rolling off in just one week's
time for a total notional of A$340mln, likely betting against near-term
volatility and realising premiums of just over $110,000 upfront.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.