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Oct 03 - 07:24 AM
GBP Bears Beware-Options Focus On EU Summit And Higher GBP
First appeared on eFXplus on Oct 03 - 05:40 AM
  • GBP/USD option market flows are focused on post EU summit topside protection

  • Noted buyers of 18-21 Oct expiry 1.24-1.2500 strikes today

  • One buyer paid 12.25 vol for a 3-week 1.2700 GBP call/USD put on 200-mln

  • 1-month risk reversals have seen their GBP put bias eroded to 0.4 vs 0.55

  • 1-month expiry vol has been trading 11.6 - that falls after Oct. 31 now

  • Price action certainly not consistent with no deal on Oct. 31 nL2N26O05H

GBPUSD risk reversals: Click here

Refinitiv IFR Research/Market Commentary


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