How is RV actually traded
Specifically for USD swaps, say someone asks for a bid on a weird fly structure like a 2y 1s2s15s with risk weights [-0.92, 2, -1.54]. (actual structure i looked at not something i pulled outta my ass - gapped up yday lol, write up if interested)
1: Are these custom packages treated/priced as one trade?
2: What's the mark up (down) compared to a 50-50 risk fly?
3: How many true RV traders exist? Or are most traders putting these on for their back-books?
4: How sensitive are the structures i.e. does the RV melt away after you say done?
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