EUR/USD and USD/JPY see large notional expiries, potentially influencing near-term price action at key levels.
FX option expiries totaling €13.48 billion at 1.1500 for EUR/USD and $1.89 billion at 161.00 for USD/JPY are set to expire at 10 AM ET. These levels often act as magnets for spot prices due to hedging activity by market makers near expiration.
Other notable expiries include GBP/USD at 1.3400 (GBP 698.38 million), USD/CHF at 0.8000 ($431.88 million), and AUD/USD at 0.7100 (AUD 1.76 billion). Traders monitor these strikes as they can suppress volatility and pin prices until expiry passes.
The New York cut typically sees heightened activity as dealers adjust positions, potentially leading to temporary price consolidation around key levels.