GBP: FX Exchange traded Option
Jan-17 11:39
GBPUSD (7th Mar) 122/120.5ps vs 123.5c, bought the call for 0.50 in ~2.65k.
- Underlying is close to where spot is at 122.08.
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SONIA: Call fly buyer
Dec-18 11:37
Most of the Option flow is still in Sonia this Morning:
- SFIH5 95.50/95.60/95.70c fly, bought for 2.5 up to 2.75 in 4k.
GILTS: The 2024 high in Yield could come into Play
Dec-18 11:34
- UK, and broader Investors will be keeping a close eye on the Govies and rate markets in the UK, while Market movements in EGBs and the US are contained, Gilt has managed a two way 67 ticks range for today.
- As we just noted earlier, technically the contract had a brief test through the 92.78 Fibbo retracement support, but the more interesting area should be eyed at 92.53.
- This 92.53 support is unrelated to the March expiry, it was the G Z4 low, when the 10yr Yield attempted a test through 4.60%.
Note that for today, reference 92.82 in G H5 rounding up the Yield:
- 4.60% = 92.38 (printed a 4.594% high in 2024).
US 10YR FUTURE TECHS: (H5) Bear Threat Remains Present
Dec-18 11:26
- RES 4: 112-02 Low Oct 14
- RES 3: 111-24 38.2% retrace of the Sep 11 - Nov 15 bear leg
- RES 2: 111-04+/111-20+ 50-day EMA / High 6 and the bull trigger
- RES 1: 110-17+ 20-day EMA
- PRICE: 109-24+ @ 11:15 GMT Dec 18
- SUP 1: 109-17 Low Dec 17
- SUP 2: 109-02+ Low Nov 15 and the bear trigger
- SUP 3: 109-00 Round number support
- SUP 4: 108-28 1.236 proj of the Oct 1 - 14 - 16 price swing
A bearish short-term theme in Treasury futures remains intact despite yesterday’s bounce. 109-22, 76.4% of the Nov 15 - Dec 6 upleg, has been pierced. A continuation lower would expose 109-02+, the Nov 15 low and key support. It is still possible that the latest pullback is a correction. Initial resistance to watch is 110-17+, the 20-day EMA. A break of this average would highlight an early bullish development.
