GS: Short-dated equity puts have started to be attractive again

Following a year when equity options were too expensive, short-dated equity puts have started to be attractive again with the VIX close to 20. Current implied vols look low compared with average performance during S&P 500 sell-offs in particular for European indices, where risk premia have reset the most. While FX vol has not reset as much as risky assets we think puts on selective non-USD 'risk off' crosses screen attractive, such as CAD/CHF and GBP/CHF

Options expire coincidence

We know that DXY can move a lot, in favor or negative with the correlated dollar pairs. Continuing or change the direction of the trend before even gets completed. Alternately boost up the momentum without providing any overbought or oversold, RSI signal even when microeconomic news don't offer any change. There's a big order of USD/JPY options that expires today with strike price at 113.9 dollar. This classic paradigm today with will change trend moving upwards just to close near a big option order at 113.936 above100h morning average and 200h moving average at 113.92 which indicates topping near resistance with a immediate bounce back even when at the right time lands good news boosting USD. Placing an order following the trend providing profits -doesn't mean that you collected the maximum available-.