Someone put down 450mm in premium on 50 Winter 25 TTF Puts yesterday
Anyone else’s shop talking about this? Consensus opinion is it was Statar, 1.2 mm of theta per day. Curious if this is on anyone else’s radar
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How is the TTF option market quoted? 50 what? 50 contracts cost 450mm in premium?
50 euro strike, for winter of 2025
i think its a good bet on lng flooding the market as new facilities coming online.
I think it’s a relative value HH trade playing Vega, only thing that really makes sense to me
what is hh?
Henry Hub. The US Nat Gas benchmark. It’s a location in Louisiana where many US pipelines intersect. Every regional gas price in the US trades as a spread to Henry Hub
You mean nov24-mar25 right? I think you got the shop right, could be two other european funds not sure.
I also agree its mainly a vega structure. I am more bullish than concensus but not truly bullish. As you know same was done with front xh henry though TTF options way more pricey than HH.
What’s TTF strip right now for that month? Those puts are ITM right now I think?
Heard it was between 300-500mm plain vanilla put strike 50 on front winter (Q4/24+Q1/25) TTF. Imo more likely that it is an lng hedge, thinking total, cheniere.
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