Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
Oct 23 - 01:55 PM

USD/JPY - Options Hint At Retest Of YTD High

By Robert Fullem  —  Oct 23 - 12:40 PM
  • USD/JPY's surge and breach the key 152 level coincides with a flurry of topside option activity

  • About $1.8 billion of options on DTCC Wednesday have strikes set above 160 with expiry dates as early as January

  • Some strikes are above the multi-decade USD/JPY high of 161.96 reached in July

  • Much of the option price movement is in longer-dated tenors as both the yen and US equities slide

  • USD/JPY 1-yr. implieds are set to close at the highest level since March and 10-delta risk reversals are the least bearish since July as butterflies pop

  • Demand for long-dated yen puts is occurring ahead US and Japan elections and upcoming policy meetings

  • Spot is settling as traders await comments by BOJ Governor Kazuo Ueda later Wednesday

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2024 eFXdata · All Rights Reserved
!