As we head into Friday, FX options expiries present some notable levels across major currency pairs. These expiries can provide insight into market sentiment, as large option positions at specific strike prices may influence price movements throughout the day. Let’s break down the key levels for USD/JPY, EUR/USD, AUD/USD, USD/CAD, EUR/GBP, and USD/CHF.

USD/JPY

• 149.00 – $533 million
• 148.40/50 – $1.16 billion
• 148.00 – $958 million
• 146.50 – $849 million
• 146.20 – $879 million
• 145.00 – $405 million
• 144.00 – $1.01 billion
• 143.50 – $468 million

The USD/JPY options landscape is heavily concentrated around the 148.00 and 148.40/50 levels, with over a billion dollars in expiries set to mature. These levels could see strong price action, while support may be tested at 146.20 and below.

EUR/USD

• 1.1100 – $1.26 billion
• 1.1070/80 – $525 million
• 1.1040/50 – $709 million
• 1.0990/1.1000 – $2.48 billion
• 1.0970/80 – $918 million
• 1.0950/60 – $987 million
• 1.0930 – $440 million

For EUR/USD, the largest cluster of expiries is around 1.0990/1.1000 with a massive $2.48 billion, which could act as a magnet for price action. The range between 1.0950 and 1.1100 is well-populated with sizeable expiries, meaning we could see resistance and support within this band.

AUD/USD

• 0.6850 – $819 million
• 0.6820 – $485 million
• 0.6700 – $418 million

In AUD/USD, there is a significant expiry at 0.6850, which could serve as a key level for potential movement. The levels further down at 0.6820 and 0.6700 could also influence price action but with smaller amounts involved.

USD/CAD

• 1.3680/90 – $810 million
• 1.3650/60 – $558 million
• 1.3590/1.3600 – $850 million
• 1.3580 – $447 million
• 1.3540/50 – $854 million
• 1.3490/1.3500 – $1.46 billion
• 1.3470 – $419 million
• 1.3370 – $500 million
• 1.3350 – $1.68 billion

For USD/CAD, watch out for the 1.3350 level, where a hefty $1.68 billion in options is set to expire. The 1.3490/1.3500 zone also carries significant weight with $1.46 billion. These levels are likely to attract market attention, with potential resistance near 1.3680/90.

EUR/GBP

• 0.8410/20 – $437 million

In EUR/GBP, the 0.8410/20 level is the key area to watch, though the expiry size is smaller compared to other pairs.

USD/CHF

• 0.8450 – $570 million

Lastly, for USD/CHF, the 0.8450 level has $570 million in expiries, which could see some price consolidation around this strike.

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Takeaway: With substantial expiries across several pairs, particularly in EUR/USD and USD/CAD, traders should keep an eye on these key levels. Options expiries can lead to increased volatility or act as price magnets, so understanding where the largest contracts lie can provide valuable insight into market dynamics for the day ahead.