9775 Put options vs. the Mar. 13 Eurodollar futures contracts were bought for good size this a.m. Some outright and some were bought vs. selling the 9725 puts. Players list below shows over 50K traded outright and as part of the spread. Once the floor opened the next large trade involved buying put spreads vs. the Mar. 11 futures contract, see players list below. This elevated trade is being driven more by inflation concerns than by increasing concerns over funding costs – so far libor rates have remained low and euribor rates have only creeped up marginally – 1% over the last 3 days. However there have been upward pressure on rates with growth quite strong in China and Brazil recently increased rates as did Poland. Official measures of inflation are running above targets and countries are taking action the UK may start to experience price increases of nearly 4% per anum this spring which is twice the official target rate.
Larger flows listed below.
| 1/20/2011 | |||||
| Screen trades | |||||
| Paper | B | 31,250 | EDH13 9750 puts | 6 | 9801.5/02 |
| Paper | B | 26,750 | EDH13 975/9725 p spread | 2.5 | 9802.5/03 |
| Paper | B | 20,500 | EOM9800/9700 pspread | 5 and 5.5 | 9883/83.5 |
| Open Outcry | |||||
| Paper | B | 2,500 | EDH1 95/96 p spread | 1.5 | ^9965 20% |
| Paper | B | 20,000 | EDH1 95/96 p spread | 1.5 | ^9965 10% |
| Paper | B | 2,000 | EDH1 95/96 p spread | 1.5 | 9965.5/66 |
| CCM | B | 2,000 | EDH13 9737/9750/9775 p fly | 4 | 9796/96.5 |
| CCM | B | 2,000 | EOM9850/9750 p spread | 4.5 | 9877.5/78 |
| CCM | B | 2,000 | EOH9912/9925 c spread | 5.5 | 9905.5/06 |
| Paper | B | 5,000 | EDH1 9912 put | 1 | 9965/65.5 |
| Paper | S | 5,000 | EDJ 9937/9962 strangle | 6.5 | 9956.5/57 |
| 10yr opts | |||||
| Paper | S | 2,000 | TYG119.5 puts | 0.03 | 12010.5/11 |
| New Edge | S | 1,000 | TYG119p | 0.01 | 12014/15 |
| New Edge | S | 500 | TYG121c | 0.07 | ^12019.5 |
| Paper | S | 500 | TYG120p | 0.1 | 12009.5/10 |
| New Edge | S | 1,000 | TYG121c | 0.05 | ^12014 |
| Smith B | S | 1,000 | TYH118/123 strangle | 0.31 | 12008/09 |
| New Edge | B | 1,000 | TYH120 strad | 2.07 | ^12008.5 |
| JP Morg | S | 4,000 | TYG119.5 puts | 0.03 | 12011/11.5 |
| Swiss B | B | 1,000 | TYM116p | 1.00 | 12010/10.5 |
| Mann | S | 500 | TYH117.5/119.5 p spread vs 123c | .17 psprd over | 12010.5/11 |
| Swiss B | S | 2,000 | TYH123c | 0.12 | 12011.5/12 |
| Paper | S | 500 | TYH123/123.5 c spread | 0.04 | 12011/11.5 |
| Paper | S | 1,000 | TYH118.5/121.5 strangles | 0.59 | ^12008.5 |
| ICAP | B | 1,500 | TYG121 call | 0.03 | 12008/08.5 |
| Bache | S | 500 | TYG118.5/119/119.5/120 p condor | 0.05 | 12009/09.5 |
| RJO | S | 500 | TYG119p | 0.02 | 12003/04 |
| Mann | B | 500 | TYG119p | 0.02 | 12004.5/05 |
| XFA | B | 2,000 | TYH115/116.5/119 ptly | 0.23 | 12006/07 |
| Paper | B | 1,000 | TYH119p | 0.37 | 12006/06.5 |
| Mann | S | 500 | TYH117.5/119.5 p spread vs 123c | .22 psprd over | 12002.5/03 |
| Paper | S | 500 | TYH118p | 0.22 | 12003/03.5 |
| Paper | S | 500 | TYH118p | 0.22 | 12003.5/04 |
| New Edge | S | 500 | TYG118.5/120 p1X3 | 0.1 | ^12004 |
| Merril | B | 2,500 | TYH117.5/119.5 p spread vs. TYG120c | .21 pspred over | 12005/05.5 |
| Advantage | S | 1,000 | TYH118p | 0.21 | 12006/06.5 |
| 30yr. Opts | |||||
| CSFB | B | 2,000 | TYG121 calls | 0.12 | 12011/12 |
| CSFB | B | 2,000 | TYG121 calls | .15 and .16 | 12018/19 |
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