Richard Pace is a journalist who writes for eFXdata, specializing in foreign exchange markets and currency trading. His articles provide analysis and insights into market trends, option flows, and key economic data that impact currency pairs such as GBP/USD and EUR/USD. Richard's work has also been featured in BioRxiv, showcasing his versatility and ability to cover a range of topics.
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Richard Pace's articles mainly focus on investment analysis, often citing data and press releases. He seems to be particularly interested in foreign exchange (forex) trading, options trading, market analysis, and economic data.
To effectively reach out to Richard with pitches or contributions, consider providing well-researched insights into the forex market trends, options strategies backed by solid data or unique perspectives on economic indicators affecting currency markets. Additionally, given his interest in sales & marketing themes within finance & economy topics, pitches related to strategic financial planning or innovative approaches in currency trading may also resonate with him.
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By: Richard Pace
Line 2 - Huge 1.1000 expiries expire Fri-Wed, instead of Fri-Tues
EUR/USD options are quick to pay offers when spot threatens more gains Implied volatility has increased with spot over the last week Implied volatility premium for EUR calls vs puts at new long term highs Benchmark 1-month 25 delta risk reversals reached 0.4 EUR calls on Monday
FX options thrive on volatility and use implied volatility to gauge it Implied volatility has been edging higher with spot over recent sessions Risk reversal contracts show which direction FX volatility is more likely Benchmark 1-month expiry risk reversals finally lose downside strike premium
Sub 3-month expiry USD/JPY implied volatility steady/heavy in the last week Lacks inspiration as awaits renewed catalyst which could be Sep 6 NFP data Weaker than forecast data would increase pricing for 50bps Fed cut on Sep 18 Options certainly demanding more premium for post, vs pre NFP data expiries 1-month risk reversal premium for downside vs upside strikes to 2.1 vs 2.5
FX option strike expiries for Wednesday August 28 EUR/USD: 1.1100-05 (836M), 1.1120 (602M), 1.1140 (415M), 1.1150 (2.1BLN) 1.1160-70 (828M), 1.1175 (1BLN), 1.1200 (1.5BLN), 1.1225 (473M) USD/CHF: 0.8555 (630M), 0.8600 (1.1BLN), 0.8615-20 (436M) EUR/NOK: 11.7100 (270M). EUR/SEK: 11.4800 (260M), 11.5205 (208M) EUR/GBP: 0.8530 (915M). GBP/USD: 1.3250 (502M)
amid FX setback Benchmark 1-month expiry risk reversals regain small downside strike premium Implied volatility underpinned by lower spot and impending event risks One-week implied volatility jumped 2.0 when first included Friday's NFP NFP will likely determine whether Fed cut 25bps or 50bps on September 18 Buyers of 2 week implied vol since including 12 September ECB from Friday
Risk reversals eased amid spot recovery and cheapened JPY call options Long JPY calls will benefit from lower spot/higher implied volatility Tuesday's USD/JPY setback sub 146.00 has lifted option implied volatility Benchmark 1-month expiry paid 12.3 from 12.1 Shorter dated options poised for Friday's US NFP data
Overnight expiry FX options now include the rate decision Overnight USD/CAD implied volatility has increased from 8.5 to 10.0 Not a significant increase, but still a high since the 12 June Fed meeting Premium/break-even has increased from 48 to 56 CAD pips since BoC included
Demand for 1-3-month expiry 140.00 options before this weeks USD/JPY drop They have increased in value amid lower spot/higher implied volatility However, traders have since lowered strikes and shortened expiries Solid demand for sub 1-week expiry sub 140.00 strikes
That demand has lifted topside over downside strike premiums in EUR/USD Sub 1-month expiry risk reversal contracts regain USD put vs call premium Benchmark 1-month expiry 25 delta risk reversal trades 0.15 for USD puts Reached 4-year high 0.4 late Aug, but quickly returned to favour USD calls
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