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Late SOFR/Eurodollar/Treasury Option Roundup


(Z2) Remains Below Resistance


(Z2) Bullish Extension

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(Z0) Downside Risk Still Present

  • RES 4: 137.04/05 High Sep 21 / 76.4% of the Aug 4 - 28 decline
  • RES 3: 136.60 High Sep 30 and the near-term bull trigger
  • RES 2: 136.19 High Oct 1 and key near-term resistance
  • RES 1: 135.85 20-day EMA
  • PRICE: 135.50 @ Close Oct 9
  • SUP 1: 135.06 Low Oct 7 and the bear trigger
  • SUP 2: 134.96 76.4% retracement of the Aug 28 - Sep 28 rally
  • SUP 3: 134.59 Low Sep 1
  • SUP 4: 134.32 Low Aug 28 and a key support

Gilts futures remain vulnerable following last week's extension lower. The contract breached support at 135.32, Oct 1 low opening up potential for a deeper pullback towards 134.96 next, a Fibonacci retracement. An extension lower would also expose primary support at 134.32, Aug 28 low. On the upside, initial firm resistance is seen at 136.19, Oct 2 high. A move above this hurdle is required to ease the current bearish pressure.

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