The cash hedging of soon-to-expire FX option strikes may bolster any nearby support and resistance levels, and potentially have a magnetic effect on FX price action towards each day's 10 a.m. New York time (1400 GMT) cut expiry. It is therefore advantageous to know in advance where the larger strikes lie.

Date Strike Notional

(euros)

Monday 1.1600- 1.6bln

May 25 10

1.1635 1.4bln

1.1645- 1.6bln

50

1.1655- 395mln

65

1.1675 252mln

1.1695- 1.2bln

1.1700

Tuesday 1.1575- 1.3bln

May 26 85

1.1600 2.5bln

1.1610 436mln

1.1650 2.1bln

1.1695- 1.1bln

1.1700

1.1725- 1.4bln

30

1.1735- 804mln

40

1.1775 1bln

Wednesday 1.1550- 2.5bln

May 27 60

1.1570- 1.1bln

80

1.1600 761mln

1.1620- 907mln

30

1.1650- 1.5bln

60

1.1700 1.4bln

1.1715- 2.3bln

20

1.1725- 1bln

30

1.1740- 4.3bln

50

1.1795- 3bln

1.1800

Thursday 1.1700- 1.3bln

May 28 05

1.1725- 3bln

30

1.1735- 2.5bln

40

Friday 1.1500- 2.3bln

May 29 05

1.1550 1bln

1.1580 715mln

1.1600 896mln

1.1650- 2bln

60

1.1700 866mln

1.1750 1bln Continued option trading can increase the size of current strikes and add new ones, so be sure to check the daily FX option expiry updates that are posted around 7 a.m. London time on FXBUZ.

Related Explainer - Impact of FX option expiries on spot prices (Richard Pace is a Reuters market analyst. The views expressed are his own)