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Reminder, May serial ops expire......>

US TSY OPTIONS
US TSY OPTIONS: Reminder, May serial ops expire Friday. Large amount of TYM and
FVM coming off the sheets, potential pin risk: TYM 123 strike w/241,069 options
(130,604c, 110,465p). Options 0.5 tic ITM (0.25 tic for 5-, 2-yr opt's)
auto-exercised. According to CME Group data:
*             Calls     Puts      Total   Nearest-the-Money Strike Totals
* May 30yr   187,802  253,729    441,531  146.00 w/ 21,710 (7,240c, 14,470P)
*                                         146.50 w/ 12,159 (5,534c, 6,625P)
*                                         147.00 w/ 22,923 (8,094c, 14,829P)
* May 10yr 1,316,412  812,985  2,129,397  122.75 w/ 33,815 (5,585c, 28,230p)
*                                         123.00 w/ 241,069 (130,604c, 110,465p)
*                                         123.25 w/ 60,274 (22,627c, 37,647P)
* May 5yr    416,859  694,708  1,111,567  115.00 w/ 90,438 (29,219c, 61,219p)
*                                         115.25 w/ 62,526 (27,148c, 35,378p)
*                                         115.50 w/ 64,980 (40,399c, 24,581p)
* May 2yr     47,493   58,117    105,610  106.25 w/ 19,800 (2,849c, 16,951p)
*                                         106.38 w/ 12,781 (8,859c, 3,922p)

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