April 4, 2026 - April 5, 2026, the price of the 'Increase' option surged from 59c to 74.5c, while the 'No Change' option plummeted from 40c to 23c. The reason is the market further pricing in the expected May rate hike, reinforced by solid institutional consensus and possibly new macroeconomic data.
March 15, 2026 - March 21, 2026, the price of the 'Increase' option steadily recovered from 55c to 59.5c, while 'No Change' adjusted from 35.5c to 38c. The reason is the gradual restoration of market liquidity, with investors repricing based on major banks' hike forecasts, correcting the previous panic selling.
March 5, 2026 - March 6, 2026, the price of the 'Increase' option crashed from ~65.5c to 34.5c before rapidly rebounding to 63.5c; simultaneously, 'Decrease' spiked from <1c to 25.8c before retracting. The reason implies a market panic reaction to sudden economic data or a single large erroneous trade (fat finger/liquidity gap), briefly pricing in a surge in cut/recession probability, which the market quickly corrected.
Feb 9, 2026 - Feb 10, 2026, the price of the 'Increase' option surged from 51c to 61.5c. The reason is that following the RBA's surprise hike in early February, CBA and Westpac revised their forecasts to join NAB in predicting another hike in May.