Sell initiated Eurodollar 1-year butterflies.
-11K sold EDZ4/ EDZ5/ EDZ6 at -42 and -30K sold EDH5/ EDH6/ EDH7 at -15.5 to -16
Both of these butterfly spreads are well off their recent high from a week ago (-32 in z4/z5/z6 on May 5 and from -5.5 h5/h6/h7 on May 6) These trades are consistent with an exit from bearish positioning in Eurodollars. Remember that a week ago, a new record net-short Eurodollar futrues (and futures and options).
Yesterday there was a 100k trade in EDH6 (red March) that was buyer initiated.
Open interest rose by 54K in EDH6 yesterday.