The move up in 10yr. futures has sparked quite a bit of trade, especially in the March 10yr. options below. The dial shown below is calibrated such that the Mar. futures prices and corresponding yields are depicted. There is one large player executing through RBC that has bought 10K of the Mar. 118 – 121 call spreads, that clearly the newest and biggest position in the Mar. calls as total open interest for all strikes coming into todays session was just over 8K total. For a short term play it might be worth looking at selling Dec. 119 and 119.5 calls and selling Dec. 117.5 – and 117 puts as strangles, as prices look to consolidate for the next 7 sessions as noted earlier.
Additional flows in 10yr. options listed below from Wed. 10/28
| House | B/S | Qty | Commodity | price | futures price |
| 287 | B | 500 | TYH121-123cspred | 0.19 | 11801.5/02 |
| 0 | B | 500 | TYH112.5p / 120.5c combo put over | .14 and .15 | Delta 11616 |
| 0 | B | 4,000 | TYH110p / 121c combo call over | 0.07 | Delt 11621 and 21.5 |
| 660 | S | 5,000 | TYF112 - 120 strangles | 0.32 | 11805.5/06 |
| 0 | B | 1,500 | TYH113 - 121 combo's put over | 0.15 | Delt 11700 |
| 0 | B | 800 | TYH112-114ps vs. sell TYZ113 - 115ps | 0.22 | 11803/04 |
| 116 | B | 4,000 | TYH110p | 0.25 | 11808/09 |
| RBC | B | 10,000 | TYH118 - 121 cs | .63 and .61 | 11808 to 11803 |
| 0 | B | 500 | TYZ108.5 - 109.5cs | 0.23 | 11801.5/02 |
| 685 | B | 1,000 | TYZ118.5c | 0.41 | 11800.5/01 |
| BCG | B | 500 | TYZ114 - 116p1X2 | 0.08 | 11616.5 |
| DT | B | 1,000 | TYZ116p | 0.19 | 11729.5/30.5 |
| 287 | S | 1,000 | TYZ118c | 0.55 | 11731.5/00 |
| 287 | B | 500 | TYZ115 - 116ps | 0.09 | 11730/30.5 |
| 350 | B | 1,000 | TYZ119c | 0.26 | 11729.5/30 |
| 287 | S | 500 | TYZ115.5 - 116.5ps | 0.1 | 11808/09 |
| 714 | B | 1,000 | TYZ116 - 116.5 - 117pfly | 0.02 | 11810/10.5 |
| 287 | B | 2,000 | TYZ116.5 - 118ps | 0.28 | 11808.5/09 |
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