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May 17 - 06:55 AM

EUR/USD - Mega Option Strike Hedging Adds To Major EUR/USD Support

By Richard Pace  —  May 17 - 04:40 AM
  • The latest EUR/USD setback met demand by 10 April 1.08315 low (EBS) on Wed

  • Big option strike expiries nearby with related cash hedging aiding support

  • 1.4-billion euros between 1.0810-25 and 590-million 1.0795 expire Wednesday

  • Another huge 1.9-billion between 1.0810-20 expire 10-am New York Thursday

  • Big support at 1.0806 - 50% Fibo retrace of 1.0516 to 1.1096 Mar-Apr gains

  • FX options reflect FX downside risk but expect volatility to stay very low

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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