EUR/USD options expire at 1.1500 with EUR 3.45 bn
FX option expiries for 19 June 10am New York cut include EUR/USD 1.1500 with EUR 3.45 bn and USD/JPY 162.00 with US$ 411.07 mn.
These levels also include GBP/USD 1.3350 with GBP 323.37 mn and USD/CHF 0.7980 with US$ 593.83 mn.
Traders watch these levels as they often act as a magnet for the price, with market makers hedging their risk, suppressing volatility and keeping the price pinned close to the strike price until expiration.
The hedging activity tends to increase as the price gets closer to the strike price near expiration, with market makers aggressively buying or selling the currency to hedge their risk.