EURUSD TECHS: Spikes Into Close
* RES 4: 1.1857 High Feb 18 * RES 3: 1.1797/1849 High May 06 / Apr 17 and the bull trigger * RES 2: ...
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SOFR OPTIONS: Some One-Off Call Structures Ahead FOMC
Some chunky limited upside call fly & condor buying last few minutes listed below, otherwise better put structure volumes ahead FOMC
- +20,000 0QZ6 96.37/96.87/97.37 call flys from 10.75-11.0
- +10,000 SFRZ6 96.43/96.56/96.68/96.81 call condors, 1.75
OPTIONS: Big Euribor Put Condor Trades Includes An Apparent Closing
Wednesday's Europe rates/bond options flow included:
- ERM6 97.75/97.68/97.56/97.43p Condor, bought for 2.25 in 20k
- ERZ6 98.12/98.00/97.375/97.25p condor, sold at 5.5 in 36k (suggest closing)
US 10YR FUTURE TECHS: (M6) Narrows Gap with Bear Trigger
- RES 4: 112-16 61.8% retracement of the Mar 2 - 27 bear leg
- RES 3: 112-07 High Mar 18
- RES 2: 111-31 50.0% retracement of the Mar 2 - 27 bear leg
- RES 1: 111-27+ High Apr 17
- PRICE: 110-15+ @ 17:27 BST Apr 29
- SUP 1: 110-12+ Low Apr 29
- SUP 2: 109-24 Low Mar 27 and the bear trigger
- SUP 3: 109-22+ 1.764 proj of the Mar 10 - 13 - 18 price swing
- SUP 4: 109-12 2.000 proj of the Mar 10 - 13 - 18 price swing
Treasuries have opened a decent gap with last week’s highs, leaving key short-term resistance defined at 111-27+, the Apr 17 high. Support at 110-16, the Apr 2 low, has broken - a bearish development that exposes the bear trigger of 109-24. Any renewed rally needs to push prices through 111-27+, before 111-31, the 50% retracement for the Iran War bear leg, can be tested. Clearance of this retracement level would strengthen any bullish theme.
