Today’s Option Expiries | July 27, 2026
■ Spot Prices
EUR/USD: 1.1406
USD/JPY: 163.58
GBP/USD: 1.3355
USD/CHF: 0.8148
USD/CAD: 1.4081
AUD/USD: 0.7002
NZD/USD: 0.5802
EUR/GBP: 0.8539
■ Today’s Expiries | July 27
EUR/USD
・1.1290 (€830M)
・1.1350 (€820M)
・1.1360 (€1.4B)
● 1.1375 (€1.8B) Largest
● 1.1400 (€1.7B)
・1.1430 (€600M)
・1.1435 (€550M)
・1.1450 (€750M)
・1.1480 (€730M)
・1.1500 (€620M)
・1.1545 (€530M)
Spot is currently 1.1406.
Option interest is concentrated close to the current market at:
● 1.1400 (€1.7B)
・1.1430 (€600M)
・1.1450 (€750M)
Price action is likely to remain centered around 1.1400, making range-bound trading the main scenario for today.
USD/JPY
● 162.00 ($2.8B) Largest
Spot is currently 163.58.
The only significant expiry is positioned at 162.00, which remains some distance below the current market.
GBP/USD
・1.3300 (£860M)
・1.3350 (£750M)
Spot is currently 1.3355.
The 1.3350 area is likely to act as the main reference point for today’s trading.
USD/CHF
No significant large expiries today.
USD/CAD
No significant large expiries today.
AUD/USD
・0.6985 (A$580M)
・0.7030 (A$600M)
Spot is currently 0.7002.
The option structure suggests a potential range around the 0.7000 level.
NZD/USD
No significant large expiries today.
EUR/GBP
No significant large expiries today.
■ Next Business Day Expiries | July 28
EUR/USD
・1.1425 (€820M)
AUD/USD
・0.6925 (A$500M)
■ Overall Market Structure
・EUR/USD has option interest concentrated around 1.1400, with relatively balanced expiries on both sides of the current market.
・USD/JPY still has a large $2.8 billion expiry at 162.00, although the strike remains some distance below spot.
・GBP/USD is likely to remain sensitive to the 1.3350 area.
・AUD/USD may continue to search for direction around the 0.7000 threshold.
■ Trading Strategy
EUR/USD
・Expect range-bound trading centered around 1.1400.
・The 1.1430–1.1450 area may act as near-term resistance.
USD/JPY
・The large 162.00 expiry remains an important reference point, but its immediate impact may be limited because of the distance from spot.
・With the FOMC and BOJ meetings approaching, event-driven positioning and cautious trading may dominate.
GBP/USD
・Expect price action to remain centered around 1.3350.
AUD/USD
・Focus on a potential range around 0.7000.
・The 0.7030 level may act as resistance, while 0.6985 may provide support.
■ Summary
Today’s key option levels are:
● EUR/USD 1.1375 (€1.8B)
● EUR/USD 1.1400 (€1.7B)
● USD/JPY 162.00 ($2.8B)
Option interest is heavily concentrated around 1.1400 in EUR/USD, making this the most likely center of gravity ahead of the New York cut.
In USD/JPY, the largest expiry remains at 162.00, but the strike is well below the current market. With the FOMC and BOJ meetings approaching, event-risk positioning is likely to remain the dominant theme.
