The two-year Greek note was trading at a spread of 807 basis points over the comparable German issue versus a spread, or gap, of 733 basis points Monday.
FridsonVision, a research firm, publishes a default-rate predictor based on the percentage of bonds trading with a spread of at least 1, 000 basis points.
The largest transaction in Safeway options today was the one-by-two ratio put spread initiated in the March expiry in the first half of the trading session.