And it really only caught peoples' attention because it was exchange traded. Things like that are happening frequently enough in the OTC and at a multiple of the notional traded here, to really dampen the excitement of this particular trade.
It's just an OTM put fly and it's not all that exciting, as I mentioned in the other thread...
It looks like it was the EDM7 98.875/98.625/98.375 fly, originally bought in 2016 when EDM7 was trading with a 99 handle. In May 2016, paper was buying it for 3.5 or thereabouts. It was being sold recently for arnd 9.
And it really only caught peoples' attention because it was exchange traded. Things like that are happening frequently enough in the OTC and at a multiple of the notional traded here, to really dampen the excitement of this particular trade.
Well, $4mm/bp (full terminal belly delta), it's a pretty chunky trade, whether listed or otherwise... However, as you say, it's really nothing to get too excited about.
