Late SOFR/Treasury Option Roundup

Overnight option trade a little more paired compared to Thu's heavy upside call positioning for policy pivot over the next couple Fed meetings. Pick-up in put structures carried through Friday's session w/ weaker underlying scaling back small portion dovish pricing:

• SOFR Options:
  • Block, +9,500 SFRG3 95.06/95.18/95.31 call flys, 7.0
  • Block, +20,000 SFRU3 94.68/95.18/95.37 put trees, 5.5-6.0 net ref 95.265
  • Block, 8,000 OQZ3 95.75/96.25 put spds, 9.5 ref 97.105
  • Block, 4,000 SFRZ3 95.00/95.25/95.50 put flys, 3.5 vs. 95.595/0.05%
  • Block, 8,000 SFRJ3 94.75/94.93 put spds, 2.5 vs. 95.095/0.14%
  • Block, 5,400 SFRZ3 98.25/99.00 call spds, 1.5 ref 95.635
  • 9,000 SFRG3 95.12/95.18 2x1 put spds, 0.75
  • Total, 7,500 (5K block) SFRG3 95.12/95.18/95.25 put trees ref 95.155
  • Total 22,000 (6.5k block) SFRJ3 94.93/95.06/95.18 put flys, 1.5 ref 95.10
  • -10,000 SFRM3 95.18/95.31/95.43 call flys 1.0
  • +8,000 SFRG3 95.06/95.18/95.31 call flys, 6.75
  • 3,000 SFRJ3 95.18/95.31/95.43 put flys ref 95.105
  • Over 14,700 SFRZ3 95.37/95.50 put spds ref 95.645
  • 2,800 SFRM4 98.25/98.50 call spds, ref 96.72
  • Block, 1,250 SFRU3 94.81/94.93/95.12 2x3x1 put flys, 1.5 net ref 95.28
  • Block, total 14,000 OQJ3 96.00 puts, 6.0 vs. 96.725 -.73/0.15%
  • 1,500 SFRJ3 95.31/95.43/95.56 call flys, ref 95.11
  • +7,250 SFRJ3 95.06/95.12/95.25/95.37 call condors, 1.5 ref 95.11
  • Total 9,500 (3k Block) SFRJ3 94.93/95.06/95.18 put flys, 1.5 ref 95.105-.11
  • Block, 1,500 SFRH3 95.12/95.25/95.43 broken call flys, 3.25 ref 95.155
• Treasury Options:
  • -5,000 USH 124/128 put spds, 45 ref 130-26
  • -5,000 USJ 129/130 put spds, 21
  • -5,000 USM 129/130 put spds, 23
  • 2,000 USM3 129/130 put spds, 24 ref 132-17
  • 2,000 FVG3 110.25/110.5 call spds, 3 ref 109-26.25
  • Over 11,900 TYG3 116 calls, 11 ref 115-10
  • +1,000 TYH3 118/119/120 call flys, 4