With the Fed's Jackson Hole Meeting approaching, opinions in the options market are divided. Today, block bullish and bearish trades amounted to US1.61 billion and US1.14 billion respectively, accounting for two-thirds of the total turnover for the day. Trading was mainly concentrated on out-of-the-money options with terms expiring in the current week and month. At the same time, short-term implied volatility declined, indicating that institutional investors are not very optimistic that this meeting will bring about significant volatility.(Greeks.live)