SOFR OPTIONS: Some One-Off Call Structures Ahead FOMC
Apr-29 16:55
Some chunky limited upside call fly & condor buying last few minutes listed below, otherwise better ...
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
OPTIONS: Call Condor Buying Resumes From Last Week
Mar-30 16:52
- Monday's Europe rates/bond options flow included:
- ERU6 97.75/97.50/97.00p ladder, bought for 1 in 6k
- SFIM6 95.95/96.05/96.10/96.25c Condor, bought for half in 15k total
- SFIU6 96.00/96.10/96.15/96.25c condor, bought for 1 up to 1.25 in 5k
- SFIU6 96.00/96.25/96.50c fly, bought for 4.5 in 5k
US TSY OPTIONS: May'26 30Y Call Fly
Mar-30 16:46
- 5,300 USK6 116/118/120 call flys, 14 net ref 113-21
FOREX: USD Index Rises to 10-Month High Above 100.50
Mar-30 16:29
- Higher energy prices to start the week are emphasising the heightened level of uncertainty regarding the geopolitical backdrop and the associated fragile risk environment. This dynamic has translated to persistent dollar strength across the session, resulting in the USD index rising to the highest level since May last year, above several daily highs around the 100.50 mark.
- Price action has been a grind, however, the likes of EUR, GBP and NZD are all trading with half a percent losses, while moderate dollar buying at month end could be a contributing factor. For EURUSD, this has translated into the pair re-establishing itself back below 1.15 and printing as low as 1.1443 ahead of the APAC crossover. This appears to be confirming that recent short-term gains were corrective. The bear trigger lies at 1.1411, the Mar 13 and 16 low, of which clearance would resume the downtrend.
- Fresh 2026 lows for NZDUSD below 0.5710 highlights how the risk sensitive pairs have been bearing the brunt of the most recent sentiment. The pair briefly extended the pull lower from the January highs to 6.45% at its lowest point today.
- Despite a less aggressive move south of just 0.28%, this will be the eighth consecutive session with lower highs for AUDUSD, as the pair extends its pullback from its cycle peak to 4.6%. While 0.6800 is the next level of note, important trendline (drawn from the Apr 9 ‘25 low) support lies at 0.6705.
- Offsetting the day’s narrative surrounding the dollar has been the Japanese yen, as fresh intervention concerns have likely exacerbated a short squeeze for the Yen. USDJPY initially made fresh cycle highs at 160.46 (highest since July 2024), however, subsequently spot resides around 100 pips off those highs. Communication from authorities continues to signal that bold action is growing in likelihood. EURJPY has declined over 1% on Monday to current levels of 182.60.
- The data calendar is busy on Tuesday, with Japan’s Tokyo CPI, unemployment and activity data all crossing before China manufacturing and non-manufacturing PMIs. After this, the focus turns to Eurozone CPI and Canda GDP, before the US MNI Chicago PMI and JOLTS data.
