OPTIONS: Upside Structures In Sonia Prevalent After BOE Rate Hold
Sep-18 16:53
Thursday's Europe rates/bond options flow included:
Pre-BOE decision:
- RXV5 129.50c vs RXX5 130.50c calendar spread, bought the Nov for 9 in 2.1k.
- RXV5/RXX5 130c calendar spread, bought the Nov for 29 in 4.2k.
Post-BOE decision:
- ERU6 97.81/97.68/97.56/97.43p condor, bought for 1.5 in 2.5k
- ERU6 98.25/98.50cs x1 vs ERU6 97.93p x0.5, bought the cs for half in 10k
- SFIZ5 96.15/96.25/96.30/96.40C Condor, bought for 2.25 in 4k
- SFIH6 96.40/96.60cs , bought for 4.5 in 2k
- SFIH6 96.40/96.60/96.80c fly, bought for 3 in 3k
- SFIH6 96.60/96.75cs, bought for 1.5 in 10k
- SFIM6 96.45/96.75cs , bought for 8.75 in 5k
- SFIM6 96.45/96.75 call spread paper paid 8.75 on 5K (vs. 40).
- SFIZ5 96.30/96.55/96.80c fly, sold at 0.75 in 11.5k
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OPTIONS: A Couple Of Sonia Call Condors Sold Ahead Of UK CPI
Aug-19 16:52
Tuesday's Europe rates/bond options flow included:
- RXU5 128.5/128/127.5p fly, bought for 5 in 2k.
- RXX5 132c, bought for 15 in 1.2k
- SFIH6 96.40/96.60cs, bought for 5 in 7k.
- SFIZ5 96.15/96.25/96.35/96.45c condor, sold at 2.75 in 6k.
- SFIZ5 96.10/25/40/55 call condor, paper sells for 5.0 in 3k (covered 21 delta)
PIPELINE: Corporate Bond Update: $5B IBRD Priced, Guidance Updates
Aug-19 16:28
- Date $MM Issuer (Priced *, Launch #)
- 08/19 $5B *IBRD (World Bank) 10Y SOFR+60
- 08/19 $4B #EIB 5Y SOFR+39
- 08/19 $1.25B #Allianz Perp-NC8.7 6.55%
- 08/19 $1B #DBJ 3Y SOFR+50
- 08/19 $1B #MetLife $600M 3Y +45, $400M 3Y SOFR+70
- 08/19 $750M #CCDJ 5Y +75
- 08/19 $Benchmark Pricoa Global Funding 7Y +100a
- 08/19 $Benchmark National Rural Utilities 3Y +48
- 08/19 $Benchmark British Colombia 5Y SOFR+56
- 08/19 $Benchmark Hanover Insurance 10Y +150a
- 08/19 $Benchmark MassMutual 10Y +78
US STOCKS: Midday Equities Roundup: Communication Services, Chip Stock Lagging
Aug-19 16:21
- Stocks trade mixed early Tuesday, well off early highs - the DJIA outperforming weaker SPX emini and Nasdaq indexes ahead midday. Currently, the DJIA trades up 6.44 points (0.01%) at 44921.68, S&P E-Minis down 29.25 points (-0.45%) at 6440, Nasdaq down 243.1 points (-1.1%) at 21385.81.
- As noted in the 1113ET bullet, aside from a sell-program, Communication Services and Information Technology sectors underperformed in the first half, the former weighed by Trade Desk -3.38%, Netflix -3.22%, Paramount Skydance -2.33%, Warner Bros Discovery -2.16% and Meta Platforms -1.85%.
- The IT sector was weighed by: Palantir Technologies -5.83%, Jabil -4.31%, Advanced Micro Devices -3.93%, Oracle -3.92% and Super Micro Computer -3.35%.
- On the positive side, Real Estate, Consumer Staples and Health Care sectors outperformed. Investment trust stocks supported the former following this morning jump in (albeit volatile) Housing Starts data: Prologis Inc +4.01%, Federal Realty Investment +1.90%, Kimco Realty +1.85% and Weyerhaeuser +1.71%.
- Supporting Consumer Staples stocks included: Kenvue +1.59%, Colgate-Palmolive +1.52% and Kroger +1.39%. Meanwhile, pharmaceuticals buoyed the Health Care sector in the first half: Waters Corp +2.39%, West Pharmaceutical +2.34%, Baxter International +2.16% and Labcorp Holdings +2.00%.
