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Hedging volumes humming along in line.......>

OPTIONS
OPTIONS: Hedging volumes humming along in line with average at this point, with
USD/TRY volume surging and compensating for slightly lower volumes in USD/JPY
and USD/CNY.
-TRY hedgers clearly taking advantage of the move above the 5.00 mark in spot,
but calls still remain in vogue with today's put/call ratio of 0.85 so far
today. Larger options trades eye USD/TRY puts expiring by the end of August with
strikes ranging from Try4.9250-5.0500.
-In GBP/USD options markets, put trades were in demand following the BoE rate
decision, with 35 puts bought vs. 25 calls. Larger trades eye put strikes as low
as $1.2530, due to expire in early October.

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