l would seem to offer a better risk/reward payoff. 'Changes in 3M implieds over the past year 3% 2% -0.6% -1% 0 0 0 0 gw ; 2.40 = sy a Swett Dame!. Bmtl. Bloont0e0 Anne. LP 'Vol slope for EUR/USD is historically flat 16 Is 14 13 12 11 10 9 7 6 T T T 0 9M 12M Sweat Moon, Raanat