EUR/USD and USD/JPY options totaling over $3 billion in notional value expire at key strike levels this morning.
FX option expiries at 10 AM ET include EUR/USD strikes at 1.1725 (€729.21 million), 1.1680 (€799.65 million), and 1.1650 (€632.35 million). USD/JPY options at 159.00 total $345.34 million, while USD/CHF and USD/CAD expiries add $309.47 million and $1.13 billion, respectively.
Traders monitor these levels as hedging activity by market makers often pins spot prices near strikes. Prior sessions saw similar expirations act as magnets, suppressing volatility until expiry passes. The largest clusters today center on EUR/USD and USD/CAD.
No immediate market reaction was reported ahead of the New York cut, though liquidity may thin as dealers adjust positions.