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Oct 09 - 07:55 AM

EUR/USD - COMMENT-Beware Big FX Option Strikes Within EUR/USD Range

By Richard Pace  —  Oct 09 - 05:50 AM

The cash hedging of soon-to-expire large FX option strikes can often draw and contain the FX spot rate, as we saw in EUR/USD last week, and there are more on the near-term horizon and within its most recent 1.0448-1.0617 range.

U.S jobs data raises the stakes for Thursday's U.S. CPI and may keep FX markets side-lined prior.

The biggest strikes expiring on Monday are at 1.0500 on €679-million, 1.0550 on €1.4-billion, 1.0585 on €892-million and 1.0600 on €1.8-billion.

There's not too much on Tuesday except for €564-million at 1.0540, but more on Wednesday with 1.0450 on €824-million, 1.0495-1.0500 on €682-million and 1.0520 on €745-million.

EUR/USD strikes expiring on Thursday so far are at 1.0450 on €500-million, 1.0500 on €642-million, 1.0550 on €600-million, 1.0575 on €1-billion and 1.0590-1.0600 on €1.3-billion.

The biggest EUR/USD strikes expiring this week are on Friday at 1.0450 on €1.7-billion, 1.0470-75 on €4-billion, 1.0500 on €1.3-billion, 1.0515 on €1.8-billion, 1.0550 on €854-million and 1.0565-75 on €1.8-billion.

As is often the case, the size of the strikes will often increase before expiry as existing positions are adjusted.

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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