Better interest in calls overnight, particularly in SOFR options with underlying futures surge as projected rate cuts gain momentum through year end.

• SOFR Options:
  • over 14,800 SFRZ3 96.25/96.75 call spds ref 96.38 -.375
  • over 11,300 SFRK3 94.62/95.00/95.25 broken put flys ref 95.575
  • 9,900 SFRM4 98.25/98.50 call spds ref 97.045
  • 5,000 SFRJ3 94.87/95.12/95.38 call flys, ref 95.605
  • 2,000 OQJ3 96.87/97.25 2x3 call spds ref 97.045
  • 2,000 SFRZ3 97.50/98.00 call spds ref 96.225
• Treasury Options:
  • over 9,500 FVK 114 calls partly tied to FVK 112.5 calls on 2x3 ratio
  • over 9,900 FVJ3 puts, 12 ref 111-00.5
  • 3,100 TYK3 116.75 puts, 14 ref 116-29
  • 5,000 TYM3 120/125 call spds, 41 ref 116-27.5 to 117-00
  • over 24,900 TYK3 113.5 puts, 18-20 ref 116-28 to -31.5
  • over 7,500 TYK3 115 puts, 40-42 ref 116-25 to -29