GBP/USD - Open positions in Puts jumps by 908 contracts
- Open positions or open interest (OI) in Puts jumped on Friday.
- Investors seeking downside protection.
The CME numbers for GBP/USD Dec. expiry show, the open interest in Puts rose by 908 contracts. The in the money Puts added 185 contracts, while the OI in the out of the money options increased by 723 contracts.
Investors could be hedging against a (possible) pullback in the GBP/USD, given the signs of exhaustion around 1.35 levels. As of writing, Cable is trading at 1.3467. The spot clocked a high of 1.3513.