• USD/JPY hits a new low since September at 142.03 (EBS)

• Option implied volatility already off lows prior and extended gains

• Benchmark 1-month to 14.4 from 13.6 setback low Tues

• 16.5 was Friday's peak, while 9.0 was the pre tariff lows in late March

• Other expiry dates higher, too and ongoing demand for downside strikes

• USD put RKO options remain a popular bet on lower USD/JPY

• Related comment - Is the USD really doomed
USD/JPY FXO implied volatility

(Richard Pace is a Reuters market analyst. The views expressed are his own)