Headline: FX Option Expiries: 21 November New York Cut — Levels Traders Are Watching
Key Takeaways
As the 10 a.m. New York cut approaches, the FX options board shows notable clusters across major currency pairs that could influence spot price action into the fix. Dealers will be watching hedging flows around key strikes, with potential pinning in pairs where open interest is concentrated.
EUR/USD leads the board with sizeable expiries layered between 1.1500 and 1.1680, including EUR 1.50bn at 1.1500, EUR 1.39bn at 1.1625, and EUR 1.30bn at 1.1680. USD/CAD also stands out with a corridor of risk spanning 1.3900 to 1.4200: US$ 770.60mn at 1.3970, US$ 723.08mn at 1.4120, US$ 693.89mn at 1.3900, and US$ 519.71mn at 1.4200. In USD/JPY, the 155.00 handle carries US$ 761.93mn, a level that could act as a gravity point if spot trades nearby.
Elsewhere, AUD/USD shows a chunky AUD 3.03bn at 0.6550, while GBP/USD has GBP 282.82mn at 1.3435. USD/CHF features US$ 408.74mn at 0.8050 and US$ 212.00mn at 0.7870. In the antipodeans and crosses, NZD/USD has NZD 1.01bn at 0.5480, and EUR/GBP sees EUR 409.27mn at 0.8810. With liquidity and positioning in focus, today’s expiries may shape intraday volatility and spot behavior around these strikes.
Key Points – Cut time: 10 a.m. New York (options expiry window for today’s flows) – EUR/USD: 1.1500 (EUR 1.50bn), 1.1625 (EUR 1.39bn), 1.1680 (EUR 1.30bn) – USD/CAD: 1.3970 (US$ 770.60mn), 1.4120 (US$ 723.08mn), 1.3900 (US$ 693.89mn), 1.4200 (US$ 519.71mn) – USD/JPY: 155.00 (US$ 761.93mn) — key psychological and options level – AUD/USD: 0.6550 (AUD 3.03bn) — one of the day’s largest notional expiries – Additional levels: GBP/USD 1.3435 (GBP 282.82mn), USD/CHF 0.8050 (US$ 408.74mn) and 0.7870 (US$ 212.00mn), NZD/USD 0.5480 (NZD 1.01bn), EUR/GBP 0.8810 (EUR 409.27mn)
