USD/INR: Options market flips bearish for first since March 2019

One-month risk reversals on USD/INR, a gauge of calls to puts, has crossed below zero for the first time since March 2019, indicating a bearish shift in the market sentiment. 

The one-month metric is trading at -0.025 in favor of USD/INR puts (or INR calls). 

A negative print is the result of put options drawing higher premium or demand than calls or bullish bets. 

The USD/INR pair fell to a 5-½-month low of 73.80 on Thursday. 

Risk reversals