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Slightly sanguine session so far for........>

OPTIONS
OPTIONS: Slightly sanguine session so far for currency options markets, with
volumes running around 20% below average, according to DTCC data. While USD/HKD
hedging volumes are surging, lower trading activity in USD/JPY, EUR/USD and
USD/CNY are keeping markets largely quiet.
-One of the more interesting trades crossing so far today appears to be a
significantly large USD/JPY call spread: buying a 12m Y117/Y121 call spread for
a total notional of over $500mln. The structure breaks even at around Y117.35.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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