I’ve just had a glance through the option maturity calendar for this week and there’s more than an interest on cable between 1.6600-50 on Wednesday at the 15.00 GMT expiry.
- 1.6600 GBP 1 bln
- 1.6625 GBP 700m
- 1.6650 GBP 1 bln
These are linked to call options traded last week which means that should cable retrace lower toward 1.6650 we can expect some solid defence.
That’s not to say they will succeed ( GBP 3 bln is large but not insurmountable) but, added to the reported ongoing M&A need, it should be a decent battle.
As always with these and other order info take it for what you think it’s worth. For more guidance see my expiry trading post here.
