Updated on the morning of April 6, how overseas players read futures activity, options activity, cross trades, Nikkei 225 futures, and Nikkei 225 options activity

(1) The overall overseas speculative positioning on April 5 was as shown in the figure above,

the overall overseas positions were net long, while Goldman Sachs and Credit Suisse were net short.

(2) The option positions and the holdings for each company are as shown in the figure above.

(3) Large option positions and cross trades

From March 24 to March 29, four consecutive days of large-volume unwinding of put options occurred, and on March 31 there was also unwinding of put positions.