• Soon-to-expire FX option expiries attract the most related FX hedging flows around the strikes

• DTCC data shows EUR 1.9 billion EUR/USD strikes at 1.1700-10 for Wed's 10-am New York cut - EUR/USD currently 1.1705

• Thursday shows a further 1.8 billion euros expiring 1.1700 and 3-billion 1.1665-80 and 2billion 1.1750-55

• There are plenty more strikes in the immediate vicinity expiring on Friday and throughout next week

• Related hedging flows are helping to keep EUR/USD spot volatility and ranges tamed of late

• Related comment - Sell the USD but don't throw the receipt
EUR/USD FX option strike expires between May 13-22


(Richard Pace is a Reuters market analyst. The views expressed are his own)