By Richard Pace — Apr 19 - 03:30 AM
More traders are buying options that would benefit/cover a USD/JPY setback
JPY call/USD put spreads are proving popular over recent sessions
They give holders the right to sell USD/JPY at one strike, buy at another
Risk reversals show the implied vol premium for JPY puts over calls
That's downside over upside strikes - 1-month expiry near long term high
Intervention risk from 155.00 is high after trilateral statementon Thursday
Israel's strike on Iran caused widespread option demand in Asia Friday
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary