SOFR One and Done Trade Idea

We ran a scenario looking at 1 hike and done for SFRZ6, now given slippage etc and by using the Fed Funds futures as a comparison and even accounting for potential builds into the Jan meeting I think there are some great opportunities in the December contract.
I believe that one of the reasons for this is the steepness of the wings. Although traditionally STIRs get sticky the closer you get to expiration we do have a situation where “anything could happen” and for this reason, the wings are understandably higher than normal……

What this offers is potentially cheap flies and condors. By simply typing in “One more hike these are the parameter it worked off of;

Now earlier on this week when we did a run on these scenarios but building in a slightly higher implication for Jan, it resulted in liking the SFRZ6 57+/58/58+/60 cc at 0.50 ticks, which is still ,IMO a great purchase at .50 where it is still offered at…
With the new run , it liked a new trade…

Going with its favourite trade is the SFRZ6 57+/58/60 cf 2x3x1

On a constant maturity lookback it is the cheapest it has been in over 2 years
And the heatmap looks great too;

And that our theo has it closer to .75 but that when I checked it last, is offered at .50 should be lifted……