Look out for large FX option expiries next week
April 19 (Reuters) -The cash hedging of soon-to-expire FX option strikes can have a magnetic effect on FX price action and add to nearby support/resistance - there are large ones worth noting for the week ahead.
The largest EUR/USD strikes expire on Monday at 1.0550 and 1.0700 on 1-billion euros each, Wednesday at 1.0650 on 800-million and 1.0700-05 on 2.1-billion euros, Thursday at 1.0640-50 and 1.0750-60 on 1-billion euros each and on Friday at 1.0600-10 on 1.8-billion, 1.0645-50 on 2.3-billion and 1.0680-85 on 1-billion euros.
GBP/USD strike expiries worth mentioning are on Monday at 1.2400 on 1-billion pounds, Wednesday at 1.2450 on 553-million pounds and at 1.2645-50 on 1.1-billion pounds. Thursday has 1.2495-1.2500 strikes on 626-million pounds, whilst Friday has 1.2365 strikes on 605-million pounds, 1.2430 on 880-million and at 1.2500 on 677-million pounds.
Stand-out AUD/USD strike expiries are on Tuesday at 0.6415-20 on A$2.7-billion and 0.6525-30 on A$2.2-billion. There is a NZD/USD strike expiry at 0.6100 in NZ$ 1.1-billion on Tuesday and AUD/NZD strikes at 1.0700 on A$555-million and 1.0825 on A$833-million. There are more AUD/NZD strikes on Thursday at 1.0700 on A$876-million, 1.0850 on A$1.1-billion and 1.1000 on A$875-million.
The biggest USD/CAD strike expiries are on Monday at 1.3775 on $809-million, Tuesday at 1.3500 on $1.2-billion, Wednesday between 1.3590-1.3605 on $1.3-billion and Friday at 1.3770-85 on $1.1-billion and 1.3860-70 on $2.1-billion.
The biggest USD/JPY option expiries are on Monday at 153.25 in $1.4-billion, 154.00-20 in $1.1-billion and 155.00 in $1.4-billion, Tuesday at 153.00 in $1.3-billion, Wednesday at 153.50 in $911-million, Thursday at 152.70 in $1-billion and 155.00 in $1.4-billion, with another 155.00 strike expiry on Friday in $1.2-billion so far.
For more click on FXBUZ
EUR/USD FXO strike expiries April 22-26 https://tmsnrt.rs/4aYOvkn
USD/JPY FXO strike expiries April 22-26 https://tmsnrt.rs/3w2kFwr
(Richard Pace is a Reuters market analyst. The views expressed are his own)
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