### POV /EURODOLLAR OPTIONS:.....>

US EURODLR FUTURES: ### POV /EURODOLLAR OPTIONS: More Mar'18 selling

* -20,000 EDH'18, 98.39 (-0.010), 98.385 last. This coincides with large 82k 1Y

midcurve short Feb 76/78 put spds bought at 4.0 before the open. While the

option's underlying is the Red Mar'19 futures, the serial option expires same as

the the front Feb will. The heavy selling in the short end over the past week

has not only pushed the rate hike probability up to 66.5% for the Dec FOMC, but

a follow-up hike at the March 28, 2018 FOMC has climbed to 35.6%. The jump in

March hike chances compares to appr 5% just a couple weeks ago. While there has

been some significant long put unwinds, accounts still vested in the game are

holding onto downside insurance, with ample opportunity to buy relatively cheap,

low delta insurance to cover the rise in March chances still available.