📝 October 1, 2025 – FX Option Landscape (NY Cut)

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🇪🇺 EUR/USD (EUR Notional)

• 1.1500: €1.6B

• 1.1600: €3.4B

• 1.1610: €1.6B

• 1.1700: €3.4B

• 1.1750: €2.5B

• 1.1800: €1.9B

• 1.1865: €1.0B

• 1.1875: €1.0B

• 1.1900: €2.2B

• 1.1950: €1.9B

📌 Key Takeaways:

• Heavy clusters at 1.1600 & 1.1700 (each €3.4B).

• Strong concentration also from 1.1750–1.1900.

• Combined notional exceeds €20B, forming a mega cluster.

• Suggests heavy topside resistance → strong sell-on-rally pressure.

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🇬🇧 GBP/USD (GBP Notional)

• 1.3600: £581M

📌 Mid-sized option, could exert pull if price action narrows.

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🇺🇸 USD/JPY (USD Notional)

• 146.15: $1.2B

• 146.50: $1.2B

• 148.00: $673M

📌 Key Takeaways:

• Around $2.4B concentrated in the 146.15–146.50 band.

• Strong nearby support and convergence pressure.

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🇦🇺 AUD/USD (AUD Notional)

• 0.6600: A$1.2B

• 0.6700: A$1.9B

📌 Key Takeaways:

• 0.6700 = notable resistance (A$1.9B).

• Together with 0.6600, creates a heavy 0.66–0.67 cap zone.

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🇨🇦 USD/CAD (USD Notional)

• 1.3650: $953M

• 1.3900: $823M

📌 Both serve as important boundary markers; watch for range-trading dynamics.

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🇪🇺/🇬🇧 EUR/GBP (EUR Notional)

• 0.8695: €507M

• 0.8780: €765M

📌 0.8780 likely to cap rallies.

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📊 Strategic Summary (Option Floor View)

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👉 Key Focus Today:

• EUR/USD mega cluster (1.1600–1.1700) as the dominant magnet.

• USD/JPY (146.15–146.50) providing strong support band.

• AUD/USD (0.6700) serving as notable resistance.