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Posted by Tango
on February 4, 2019, 9:34 am
The OI seems to confirm liquidation on both sides, namely fund covering and long selling. EFP activity is also a liquidating factor in March. Of course fund covering is obviously providing strength for the market but the 105 level/strike is critical as a large number of puts will be at issue as long puts wonít require long futures hedges above 105.00 and short puts will need to cover. Market is currently making new highs, 105.60 as the MarMay trades at -2.95. The $ continues to strengthen. USDBRL is 3.6766 +0.0170 (+0.46%) while the USDCOP is 3087.99 +.09 but funds donít care about currencies in general. Today seems to be more tense buying than usual.