Cable climbs to 1.3490 ahead of the cut
The market is gravitating to 1.35 where 468m cable options are running off today, according to DTCC data. Tomorrow is a bigger day for 1.35 strikes with 1.24B listed.
Those are light volumes compared to the estimated 200B in trading volumes that hit in the hours after the Brexit vote.
In the grander scheme of things, the 300 pip bounce in cable after a 1800 pip fall is like this baby gorilla pounding his chest.
