Relatively tame overnight, except for an early morning leg down on China meeting news. This moved picked up steam as rumors of a tariff rollback circulated. Futures continued lower all day, finishing just off their session lows
Futures in a relatively tight range and options volume perked up overnight. The day session saw option volume really pick up as futures and volatility moved lower throughout the day.
Quiet overnight leads to a tame day session. Markets showed little interest in economic numbers and instead took their cue from equities, which advanced on more trade wars talk. Futures finished near their session lows.
SOFR futures volume and open interest increase aided by new participants and continued usage in repo market applications.
There were some large interest rate block trades overnight, but futures moved in a relatively tight range prior to the NFP release. Futures hit new lows after a strong number gave credence to the idea of a pause in Fed rate cuts.
Tight futures trading ranges overnight with minimal option activity. Futures traded down to the low end of their range following the release Q3 GDP numbers. Drifted higher as market participants waited for the FOMC decision.
Minimal economic news kept futures in a tight range, with total day ranges of 5-6 ticks and day session ranges inside of that. Option flow was concentrated on upside structures as the Fed decision looms at mid-week.
Trades we are monitoring today. If you’re also looking at the Silver Options volatility this might be a trade that’s worth a look.
The slow overnight session was punctuated by some large block trades entered yesterday evening. Futures touched their lows early in the morning and worked their way to the top of the range shortly after the equity open.
Interest Rate traders saw light activity overnight, which carried over into the day session. No major economic numbers to move markets as traders wait for next week’s FOMC decision.