USD/CHF: Options market teases bears after four-week optimism

USD/CHF options probe the pair buyers as one-month risk reversal, a gauge of calls to puts, dropped during the last two days after a four-week upward trajectory, per the latest data from Reuters.

This goes against the USD/CHF rebound from the monthly low, up 0.18% intraday near 0.9195 by the press time of early Wednesday.

Risk reversals flashed -0.1000 and -0.050 figures for Monday and Tuesday, suggesting the sellers are gradually firming up controls and/or a profit-booking move is building after the options market gauge rose for consecutive four weeks.

Technically, USD/CHF struggles for traction between the mid-March lows and late April tops, respectively around 0.9230 and 0.9170. However, the pair’s sustained trading beyond 200-day EMA, around 0.9135, keeps buyers hopeful.