Line 2 - Huge 1.1000 expiries expire Fri-Wed, instead of Fri-Tues

• EUR/USD back to 1.0990 after post U.S. retail sales drop to 1.0950 Thurs

• Huge 1.1000 option strikes expire Fri-Wed, related hedging can draw/contain

• FX option pricing was geared toward further EUR/USD gains before CPI Wed

• However, in-line numbers, then strong retail sales Thur, didn't help bulls

• EUR bulls will need to see EZ growth picking up, so focus is on PMI's Thurs

• Another disappointing reading could see more long positions pared for now

• Broader FXO implied volatility setbacks favour risk and should underpin USD

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