EUR/USD FX options better bid, but nowhere near previous highs from August

Implied volatility higher, but no rush to buy - still near crisis lows

Premium for EUR calls over puts creeping higher, but not excessive

1-month risk reversal 0.4 EUR calls over puts - peaked 0.9 in August

Price action recognises topside risk, but still not expecting rapid gain

Options thrive on volatility, prices suggest it remains lacking for now

More dealers are however, positioning for 1.25-1.26 in 2021 nL1N2IC0IZ