MNI FX Option Monitor finds options.........>

OPTIONS: MNI FX Option Monitor finds options volume surging ahead of year-end,

with recent risk-off sentiment spurring demand for downside exposure in EUR/JPY,

USD/JPY and GBP options trades fading fast after quieter week in Parliament.

-The sour sentiment in equity and bond markets globally underpinned firm demand

for USD/JPY and EUR/JPY downside exposure this week, with 1m risk reversals for

both pairs the lowest of all currencies tracked in our monitor and around 1 vol

point below the rolling 1-year average. USD/JPY implied vols marched higher

across the curve at the tail-end of the week, largely driven by significant put

option buying, as markets eschew risk ahead of the holidays following the Fed's

not-quite-dovish-enough rate hike.

-See http://marketnews-m.objects.xtenit.com/marketnewsintl/OpMonv1.jpg for full

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