Re: Depressed options volatility makes 'Renmimbi weaker' hedges very cheap I KCP Capital Markets [C (Paul, 1/28/2014)EFTA Document EFTA01452337
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Depressed options volatility makes 'Renngmbi weaker' hedges very cheap (Nay Guptardb)
Title Matchefta-efta01452336
Case Filesd-10-EFTA01452336Dept. of JusticeDepressed options volatility makes 'Renngmbi weaker' hedges very cheap (Nay Guptardb)
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Case File
sd-10-EFTA01452336Dept. of JusticeDepressed options volatility makes 'Renngmbi weaker' hedges very cheap (Nay Guptardb)
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As Nav points out below, there is a crowded long China trade with leverage, financed by selling options. Calls on USDCNH present a convex payoff caused by investors selling too many options - timeframe on a move is uncertain which is why he picked 1y (2y options are not very liquid). Please see below, let us know your thoughts. Best Regards, Tazia - Forwarded by Tazia SmaNdbedbcom on 01'28,2014 11.58 AM --. From: Nay Guptardb. To: Date: 01/282014 09:44 AM Subject: Depressed options
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Dept. of Justice
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sd-10-EFTA01452336
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