Range P1 P2 P3 P4 P5 C5 C4 C3 C2 C1 Lower 0 0.15 0.25 0.5 0.75 0.75 0.5 0.25 0.15 0 Global FX Strategy Craig Chan - NSL craig.chan@nomura.com +65 6433 6544 Wee Choon Teo - NSL weechoon.teo@nomura.com +65 6433 6107 Upper 0.15 0.25 0.5 0.75 1 1 0.75 0.5 0.25 0.15 Global Markets Research 23 December 2025 Research analysts | | | | | | Top trades in past 24h | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Rank | Trade date | Trade time | Pair | Type | Strike | Expiry | Tenor (m) | $ not ...