**SOFR** SFRU5 9587/93/00/12 broken c condor bought for flat x 46k and bid over As my dad told me once - there is No such thing as a free lunch…

EURIBOR Nice trade looking for ECB to remain on hold ERV5 98.125/98.0625/98.00 put ladder bot at .75 8000x ERZ5 currently trading 98.205 with 26bps of cuts priced ERV5 options expire on Oct 10th with Oct ECB on Oct 30th low premium/low risk trade which will appreciate over

EURIBOR TRADE I LOVE - NOT MANY I DO IN THIS CLIMATE!! ERV5 98.1875/98.125/98.0625 put ladder bot at 0.25/0.5 5000x Looking for ERZ5 to drift down towards 98.00… I think ECB are on hold for the foreseeable future…..

Nearly 10000 more erv put ladder bot at 0.5 Makes money on expiry between 98.1825 and 98.005 Oct options expire after the sep ECB meeting BUT importantly before the oct ECB meeting I see NO scenario where ERZ5 is below 98.00 before expiry - if the ECB cut at the July/Sep

EURIBOR TRADE DU JOUR ERV5 98.1875/98.125/98.0625 put ladder bot at 0.25/0.5 20k since yesterday I have put my money where my mouth is and have maximum position in prop book If the ECB cut again I lose premium paid - if they remain on hold, ERZ5 will drift lower towards 98.00

Reminds me of the lunches at the Rajasthan at monument

This is not a lot of fun/boring as hell With the Fed reluctant to cut rates - its far more probable that the ECB will remain on hold. That been the base line case - you need to have trades on for a grind lower.... My favourite trade is still the ERV5 98.1875/98.125/98.0625

Euribor Profit Taking ERU5 97.875/98.00 call spread sold at 11 13975x At the start of the year, paper bot the 97.875/98.00 cs vs 97.4375 put for 1-2 100k

**Euribor Trade Idea for ECB on hold** The ERX5 98.125/98.0625/98.00 put ladder is 0.75/1.25 It makes money on expiry between 98.115-97.9475 ERM5 expired at 97.999 and ERZ5 is currently trading 98.19 - IF the ECB remain on hold - ERZ5 will drift lower towards 98.00 This

**Euribor Trade Axe** ERU5 97.9375 puts are 0.25/0.75 and settled at .75 Open interest is 200k+ All paper shorts I can show a 0.5 offer in 4000 ERU5 currently trading 97.975 and is drifting lower

Some cracks appearing in Europe bond markets which has encouraged some interest to buying upside in Euribor ERM5 98.3125/98.4375 call spread bot at 2.5 60k and bid ERZ5 98.0625/98.1875/98.3125 call fly bot at 2.25 50k Euribor implied vols has been crushed over the summer -

More euribor upside 2RH6 97.75/98.1875/98.625 call fly vs 97.375 put bot for 3.25 10000x

Paper continue to add to ERM6 98.3125/98.4375 call spread buying 10k more at 2.5 4/1 payout on the ECB cutting rates by 0.5% to 1.5%

**EURIBOR TRADE AXE** MID SEP EURIBOR 98.00 PUT I CAN SHOW 0.5 OFFER IN 2500 COVERS ECB/CPI TODAY AND EXPIRE TOM CHEAP