EGB OPTIONS: Large Bund call spread
Nov-09 09:53
RXF3 142/144cs, bought for 23 in 32k
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BUND TECHS: (Z2) Bearish Theme Reinforced
Oct-10 09:44
- RES 4: 144.56 High Sep 12
- RES 3: 143.68 38.2% retracement of the Aug 2 - Sep 28 bear leg
- RES 2: 142.87 High Oct 4
- RES 1: 140.72 20-day EMA
- PRICE: 138.18 @ 10:27 BST Oct 10
- SUP 1: 137.35 Low Oct 7
- SUP 2: 135.52 Sep 28 low and key support
- SUP 3: 135.27 Low Mar 2012 (cont)
- SUP 4: 134.76 4.382 proj of the Aug 2 - 12 - 15 price swing
Bund futures are trading closer to their recent lows. The reversal from 142.87, Oct 4 high marked the end of the corrective bounce higher between Sep 28 - Oct 4. This reinforces the broader bearish theme and moving average studies remain in a bear mode position. A continuation lower would open 135.52, the Sep 28 low and key support. Price needs to clear resistance at 142.87 to suggest scope for a stronger reversal.
GERMAN T-BILL AUCTION RESULTS: 3/9-month bubills
Oct-10 09:42
Both 3/9-month bubills technically uncovered but both intended auction sizes are larger than previously, so bids are comfortably higher than for the previous auction.
| Type | 3-month bubill | 9-month bubill |
| Maturity | Jan 18, 2023 | Jul 19, 2023 |
| Allotted | E3.92bln | E1.616bln |
| Previous | E2.956bln | E1.842bln |
| Avg yield | 0.8160% | 1.6627% |
| Previous | 0.1488% | 0.5743% |
| Bid-to-cover | 0.79x | 0.95x |
| Previous | 1.40x | 1.13x |
| Buba cover | 1.01x | 1.76x |
| Previous | 1.42x | 1.23x |
| Previous date | Sep 05, 2022 | Sep 05, 2022 |
| Total sold | E5bln | E3bln |
| Target | E5bln | E3bln |
EGB OPTIONS: Bund put spread
Oct-10 09:35
RXZ2 134/131ps, bought for 65 in 3k
