📊 FX Option Landscape — September 17, 2025 (latest NY cut update)
🇪🇺 EUR/USD (EUR notional)
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1.1650: €814m
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1.1700: €949m
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1.1850: €1.5bn ✅
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1.1900: €1.3bn
📌 Focus:
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Large concentrations at 1.1850 (€1.5bn) and 1.1900 (€1.3bn) create a heavy upside wall.
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Below 1.17 is relatively light, increasing the likelihood of gravitational pull toward the upper zone.
🇺🇸 USD/JPY (USD notional)
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145.70: $1.3bn ✅
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146.85: $947m
📌 Focus:
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145.70 ($1.3bn) acts as strong support near current levels.
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Short-term resistance emerges around 146.85.
🇨🇦 USD/CAD (USD notional)
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1.3450: $678m
📌 Focus:
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Mid-sized standalone strike.
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Marks a psychological pivot level.
🇳🇿 NZD/USD (NZD notional)
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0.5825: NZ$1.0bn ✅
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0.5900: NZ$996m
📌 Focus:
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Roughly $2.0bn total between 0.5825–0.5900.
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Acts as a powerful magnet band, reinforcing range-bound trading into NY cut.
🇪🇺/🇬🇧 EUR/GBP (EUR notional)
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0.8700: €723m
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0.8800: €958m ✅
📌 Focus:
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0.8800 (€958m) stands as a significant resistance line.
👉 Key Takeaway:
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The spotlight is on EUR/USD (1.1850–1.1900 zone) and NZD/USD (0.5825–0.5900 band).
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EUR/USD faces heavy sell-on-rally pressure at upper levels, while NZD/USD is set for tight range convergence into expiry.
