USD/CHF prices justify bullish bias in the options market as the Swiss currency (CHF) pair rise 0.21% to 0.9872 heading into Friday’s European session. The major currency pair rallied the most since November 2020 while refreshing a 26-month high amid a broad risk-off mood.

The same could have helped the options market traders to build the biggest positive daily risk reversal (RR), a gauge of the spread between calls and puts, in two months.

Not only the daily RR of 0.2000 by the weekly figures of 0.225 also braces for the strongest print since the week ended during the mid-March.

The optimism in the options market, coupled with the broad risk-off mood, is likely to be challenged during the pre-NFP anxiety. However, the same could keep the ball rolling in favor of the US dollar.

Read: USD/CHF oscillates around 0.9850 ahead of the Swiss Unemployment Rate and US NFP