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Nov 14 - 07:55 AM

USD/JPY - Could USD/JPY See Another Big Post Option Expiry Hit?

By Richard Pace  —  Nov 14 - 06:10 AM
  • USD/JPY fell 151.92-151.20 after $1.3-billion 152 options expired 15GMT Mon

  • May have been RKO options in the mix with triggers at/above 152.00

  • Holders could buy USD/JPY at lower level, sell spot, if trigger not touched

  • Profit taking may therefore have been behind the sudden USD/JPY drop

  • Another $2.6 billion 152.00 vanilla option strikes expire 15GMT Wednesday

  • If more RKO trigger options in that mix, might see another post expiry hit

  • Binary barriers also reside at 152.00 and will add resistance/defence ahead

  • Potential short gamma/increased volatility and FX gains if barriers breached

  • Short term focus on big U.S data, but FX volatility premiums tame

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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