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back-book trade

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Money Talk > Investing, Stocks and Bonds

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Kendara
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Cash: $ 3.50

Posts: 14
Joined: 14 Nov 2009
Location: Tokyo
back-book trade  Reply with quote  

I'm wondering what a "back-book trade" means.

It appears in the following sentence.

With CNY vols at lows, and given the uncertainty over the growth/inflation
dynamic in China, we see limited downside for vols at this level and
recommend buying a 1Y ATMF straddle at 3.90% as a back-book trade in
case things don't go as planned in China and vols pick up.

Does anyone have any idea?
Post Sat Jun 25, 2011 1:49 am
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