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STIR: Mixed SOFR Calls, Put Sales

STIR
BulletMarketsFixed Income Bullets

Underlying futures still at/near early session highs in Whites through Greens (SFRH5-SFRZ7) that in turn helps projected rate cuts into early 2025 gain slightly vs. early morning levels (*) as follows: Jan'25 steady at -2.7bp, Mar'25 steady at -13.3bp (-13.1bp), May'25 -18.7bp (-17.7bp), Jun'25 -27.5bp (-25.7bp).

  • +2,500 SFRH5 96.25 calls, 2.25 ref 95.815
  • -2,500 SFRG5/SFRH5 96.00 call strip, 6.0 vs. 95.80/0.38%
  • -3,000 SFRZ5 96.00 puts, 39.0 vs. 95.995/0.50%
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Underlying futures still at/near early session highs in Whites through Greens (SFRH5-SFRZ7) that in turn helps projected rate cuts into early 2025 gain slightly vs. early morning levels (*) as follows: Jan'25 steady at -2.7bp, Mar'25 steady at -13.3bp (-13.1bp), May'25 -18.7bp (-17.7bp), Jun'25 -27.5bp (-25.7bp).

  • +2,500 SFRH5 96.25 calls, 2.25 ref 95.815
  • -2,500 SFRG5/SFRH5 96.00 call strip, 6.0 vs. 95.80/0.38%
  • -3,000 SFRZ5 96.00 puts, 39.0 vs. 95.995/0.50%