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OPTIONS: Vols Tick Higher, USD/JPY Calls in Vogue

OPTIONS
BulletMarketsForeign Exchange Bullets
  • Front-end vols are seeing early support Monday, with EUR, JPY and GBP 1m vols now north of the running September average. Options volumes are similarly above-average for this time of day, thanks to heightened trade in HKD and JPY in Asia-Pac hours, countering the quieter CNY options trade ahead of Golden Week holidays.
  • USD/JPY upside was the dominant theme overnight, with just over $3 in calls trading for every $2 in puts Monday. Y142.50 call strikes have seen over $1bln notional in interest, despite the modest fade lower to pullback lows of 141.65 at the European open.
  • Notable expiries at today's cut include: {EU} EUR/USD: $1.1120-25(E668mln), $1.1200(E959mln), $1.1250-65(E1.1bln), $1.1280-00(E1.4bln), {JN} USD/JPY: Y142.35-50($650mln), Y143.90-00($859mln)
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  • Front-end vols are seeing early support Monday, with EUR, JPY and GBP 1m vols now north of the running September average. Options volumes are similarly above-average for this time of day, thanks to heightened trade in HKD and JPY in Asia-Pac hours, countering the quieter CNY options trade ahead of Golden Week holidays.
  • USD/JPY upside was the dominant theme overnight, with just over $3 in calls trading for every $2 in puts Monday. Y142.50 call strikes have seen over $1bln notional in interest, despite the modest fade lower to pullback lows of 141.65 at the European open.
  • Notable expiries at today's cut include: {EU} EUR/USD: $1.1120-25(E668mln), $1.1200(E959mln), $1.1250-65(E1.1bln), $1.1280-00(E1.4bln), {JN} USD/JPY: Y142.35-50($650mln), Y143.90-00($859mln)