📊 FX Option Landscape — September 17, 2025 (latest NY cut update)

📊 FX Option Landscape — September 17, 2025 (latest NY cut update)

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🇪🇺 EUR/USD (EUR notional)

• 1.1650: €814m

• 1.1700: €949m

• 1.1850: €1.5bn ✅

• 1.1900: €1.3bn

📌 Focus:

• Large concentrations at 1.1850 (€1.5bn) and 1.1900 (€1.3bn) create a heavy upside wall.

• Below 1.17 is relatively light, increasing the likelihood of gravitational pull toward the upper zone.

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🇺🇸 USD/JPY (USD notional)

• 145.70: $1.3bn ✅

• 146.85: $947m

📌 Focus:

• 145.70 ($1.3bn) acts as strong support near current levels.

• Short-term resistance emerges around 146.85.

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🇨🇦 USD/CAD (USD notional)

• 1.3450: $678m

📌 Focus:

• Mid-sized standalone strike.

• Marks a psychological pivot level.

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🇳🇿 NZD/USD (NZD notional)

• 0.5825: NZ$1.0bn ✅

• 0.5900: NZ$996m

📌 Focus:

• Roughly $2.0bn total between 0.5825–0.5900.

• Acts as a powerful magnet band, reinforcing range-bound trading into NY cut.

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🇪🇺/🇬🇧 EUR/GBP (EUR notional)

• 0.8700: €723m

• 0.8800: €958m ✅

📌 Focus:

• 0.8800 (€958m) stands as a significant resistance line.

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👉 Key Takeaway:

• The spotlight is on EUR/USD (1.1850–1.1900 zone) and NZD/USD (0.5825–0.5900 band).

• EUR/USD faces heavy sell-on-rally pressure at upper levels, while NZD/USD is set for tight range convergence into expiry.