I know the answer is No - because a receiver option is a call on bond prices (i.e. that interest rates will drop), and a payer option is a put on bond prices. Call and negative Put payoffs are not quite symmetric.
However, I know that selling a payer swaption means giving the couterparty the right to pay-fixed and recieve floating. Since I sold the payer swaption I am paying floating.
A receiver swaption is the right to receive fixed and pay floating.
Is the only difference the ownership of the exercise right? They seem like they’d offer similar hedging benefits.