News overnight Australian Prime Minister Kevin Rudd stepped
down after a “mutiny” initially raised hopes that Australian super tax on
miners would be scrapped or renegotiated. The jury seems to be out as an
initial rally failed and according to sources at Ransquawk the basic materials
stocks are the worst performing in
shows prices rounding higher but still at over all low levels.
10yr. futures are consolidating as one would suspect given the uptick in commodity prices over all.
Broader picture as noted this morning is bullish currently brief rally in equities looks to be fading and 10's could struggle to 3% area.
Option flows in 10’s show some rolls out of July into August as July’s expire this Friday.
Otherwise fairly quiet.
| TY | |||||
| Mann | B | 2,700 | TYN119.5/TYQ120.5 c diag. July over | .33,.32, .31 | 121'18 to 22 |
| Paper | S | 1,000 | TYQ120 puts | 0.22 | 12122.5/23 |
| Paper | B | 1,000 | TYN122c | 0.13 | 121'24/24.5 |
| Paper | B | 5,000 | TYN/Q122 call calendars | 0.4 | 121'18 |
| Paper | B | 4,000 | TYN120/TYQ121 call diag July over | .21 and .22 | 121'17 to 21 |
On the screen recently Sep. 125 calls trade 10K times at .21 and .22.
In ED options large buyer of EDZ call spreads, and in the early going TJM was selling July midcurve
9887.5 straddles vs. buying 9875 puts. Screen trades and straddles are listed below.
| ED Options Screen trades | |||||
| edh1 95c trades 1.5, 1k | |||||
| edu0 90/93 p1x2 trades 2.5, 2k | |||||
| edu0 91/92/93 p-fly trades 1.5, 1k | |||||
| edz0 95c trades 1.5, 1700 | |||||
| edu0 86/91 p/s trades 4 to 4.25, 750 | |||||
| edh1 87c trades 50, 3k | |||||
| shrt dec 82p trades 12.5, 2k | |||||
| shrt aug 86 ^ trades 34, 1k | |||||
| Open outcry | |||||
| TJM | B/S | 1,000 | EOU86 calls | 31 | ^9887 |
| They are on the sell side for 2.6K more covering a long position | |||||
| Paper | B | 500 | EON88 stradd | 14 and 14.5 | 9886.5 |
| TJM | S | 5,000 | EON88 strad vs. buy 9875p | 10 | N/A |
| Paper | B | 1,000 | EOQ90/92 cspread | 3.5 | 9887 |
| Local | B/S | 5,000 | EDN091/92 p 1X2 | even | N/A |
| Paper | S | 2,500 | EDN093c | 1 | 9928 |
| Paper | S | 15,000 | EDZ92/93 cspreads | 7 | N/A |
| Straddle update as of 7:45 approx | |||||
| straddles: | |||||
| edn0 9925 13/13.5 f=9928.5 | |||||
| edq0 9925 18.5/19.5 | |||||
| edu0 9925 24/24.5 shorts | |||||
| edz0 9912 36/37 f=9916.5 EON 9887 14/114.5 | |||||
| edh1 9912 44/45 f=9911 EOQ 9887 19.5/20.5 | |||||
| edm1 9900 59/60 f=9900 EOU 9887 26/27 | |||||
| EOZ 9862 48/49 | |||||
| reds EOH 9850 67/68 | |||||
| edu1 9887 75/76 f 9886 EOM 9825 86/87 | |||||
| edz1 9862 90/91 f=9866 | B | ||||
| edh2 9850 101/102 f=9845 | S | ||||
| edm2 9825 113/114 f=9822 | B | ||||
| Flows cont'd | |||||
| Paper | S | 4,000 | EDU092/93/95 p fly | 4 | 9929 |
| New Edge | S | 15,000 | EDZ092/93 c spreads | 7 and 6.5 | N/A |
| Note this makes new edge 30K sold all day. | |||||
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