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Feb 24 - 06:55 AM

GBP/USD - Don't Rule Out GBP/USD Setbacks Sub 1.40 - Options Aren't

By Richard Pace  —  Feb 24 - 05:37 AM
  • Talk of size buying GBP/USD downside strike options early London Wednesday

  • Full details unknown, but expiry was 3-month, strikes in upper 1.30's

  • They would give holders the right to sell GBP/USD at strike, at expiry

  • Would also benefit from GBP losses and more implied volatility gains prior

  • GBP has made some impressive gains post Brexit - raises setback risk

  • Premium options charge for downside, versus upside options, holds firm, too

  • 1-month risk reversals paid 0.45 from 0.35 GBP puts over calls Wednesday

  • Related comment nL1N2KU0O1



    For more click on FXBUZ

1-3-12-Month GBP/USD risk reversals Click here

Source:
Refinitiv IFR Research/Market Commentary

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