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Oct 14 - 07:55 AM

USD/JPY - Options Protect Topside While FX Sellers Lean On Barriers

By Richard Pace  —  Oct 14 - 05:55 AM
  • USD/JPY sellers said to be leaning on well touted 150.00 FX option barriers

  • These offers adding to expected defence, but also to stops above 150.00

  • USD/JPY gains certainly struggling above 149.50, but options are wary

  • There's been demand for USD calls/JPY puts with strikes 150.00-151.00

  • They would benefit if 150.00 breaks and FX volatility/gains increase

  • Option implied volatility setbacks stall - Benchmark 1-month at 12.0

  • 1-month gets U.S. election and looks cheap versus historic value measures

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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