​It Looks Like Bremain: SX5E July Calls Tapped, Short-Term Vol Collapses

Sizeable Eurostoxx 50 July calls were the standout trades during European trading on Thursday morning as vol collapsed following the release of latest Betfair odds that showed an implied probability of 78% of the U.K. electorate voting to remain in the E.U. Otherwise, traders, strategists and portfolio managers reported lower liquidity during the morning session and a void in market makers offering prices in July tenors in underlyings outside of the SX5E.