Our analysis indicates that significant moves in volume and price come at the end of a series of record open interest days. Typically, higher open interest is an indication that market participants see an increasing risk of event-driven disruption in markets and a growing need to hedge against the potential for sharp price breaks. Larger-than-usual positions in options on Treasuries suggest that traders continue to expect that certain global events will create pricing opportunities and challenges in the market. This can occur whether the market is facing an event with a known decision date (i.e. elections or interest ... (full story)