■ FX Options Overview | May 11, 2026
■ Spot Levels
EUR/USD：1.1753
USD/JPY：157.08
GBP/USD：1.3585
USD/CHF：0.7790
USD/CAD：1.3691
AUD/USD：0.7230
NZD/USD：0.5943
EUR/GBP：0.8650
■ Monday (May 11)
EUR/USD
1.1600 (€3.2B)
1.1610 (€840M)
1.1635 (€530M)
1.1645 (€550M)
1.1650 (€560M)
1.1695 (€900M)
1.1700 (€900M)
1.1725 (€1.2B)
1.1750 (€2.2B) ★ Massive
1.1760 (€720M)
1.1800 (€1.0B)
1.1850 (€530M)
1.1875 (€550M)
⇒ Spot: 1.1753
⇒ 1.1750 remains the absolute center
⇒ Massive downside magnet also sits at 1.1600 (€3.2B)
USD/JPY
156.00 ($2.1B) ★ Largest
156.75 ($970M)
157.50 ($650M)
158.00 ($680M)
158.50 ($610M)
158.55 ($880M)
⇒ Spot: 157.08
⇒ Strong gravitational pull toward 156
GBP/USD
1.3670 (£520M)
USD/CAD
1.3650 ($4.5B) ★ Extremely Massive
1.3660 ($1.3B)
⇒ Largest option concentration this cycle
⇒ 1.3650 acting as a major fixation level
AUD/USD
0.7200 ($1.0B)
0.7300 ($940M)
⇒ 0.72–0.73 range structure
NZD/USD
0.5840 ($650M)
EUR/GBP
0.8675 (€510M)
0.8700 (€510M)
■ Tuesday (May 12)
EUR/USD
1.1600 (€780M)
1.1700 (€1.9B)
1.1740 (€670M)
1.1745 (€1.3B)
1.1750 (€2.0B) ★ Core
1.1785 (€1.2B)
1.1800 (€1.7B)
1.1815 (€840M)
⇒ Heavy concentration between 1.1750–1.1800
USD/JPY
155.00 ($1.4B)
156.50 ($1.1B)
158.35 ($600M)
⇒ 156 area remains the core focus
USD/CHF
0.7825 ($600M)
0.7850 ($690M)
AUD/USD
0.7070 ($630M)
⇒ Downside magnet still remains
■ Overall Market Structure
✔ EUR/USD: 1.1750 fixation market
✔ USD/JPY: Strong pull toward 156
✔ USD/CAD: 1.3650 is the largest magnet in the market ($4.5B)
✔ AUD/USD: 0.72–0.73 range structure
■ Trading Strategy
EUR/USD
⇒ Focus on 1.1750 reversion strategy
⇒ Be cautious chasing breakouts
USD/JPY
⇒ Slightly bearish bias on rallies
⇒ Watch for mean reversion toward 156
USD/CAD
⇒ Prioritize the 1.3650 fixation strategy
⇒ Strongest NY cut candidate today
AUD/USD
⇒ Range trading while holding above 0.72
⇒ 0.7070 remains the downside target
■ Summary
The biggest theme today is clearly:
“USD/CAD 1.3650”
A $4.5B option size is extremely large, and into the NY cut:
⇒ USD/CAD
⇒ EUR/USD 1.1750
⇒ USD/JPY near 156
These three pairs are highly likely to trade in a classic option-magnet-driven environment.
