Today’s Option Expiries | August 3, 2026
■ Spot Prices
EUR/USD: 1.1534
USD/JPY: 156.40
GBP/USD: 1.3470
USD/CHF: 0.8081
USD/CAD: 1.4030
AUD/USD: 0.7032
NZD/USD: 0.5881
EUR/GBP: 0.8561
■ Today’s Expiries | August 3
EUR/USD
・1.1375 (€690M)
・1.1400 (€1.5B)
・1.1415 (€680M)
・1.1480 (€660M)
● 1.1500 (€1.7B) Largest
Spot is currently 1.1534.
Today’s largest expiry is:
● 1.1500 (€1.7B)
This level is approximately 34 pips below spot, making a move back toward 1.1500 a potential focus ahead of the New York cut.
A further €1.5 billion expiry is located at 1.1400. However, given its greater distance from spot, 1.1500 is the more important short-term reference level.
USD/JPY
・158.60 ($1.1B)
● 160.00 ($1.6B) Largest
Spot is currently 156.40.
All of today’s option levels are above the current market price.
However, even the nearest expiry at 158.60 is approximately 2.20 yen above spot, meaning its direct influence ahead of today’s New York cut is likely to be limited.
If USD/JPY rebounds, 158.60 may become the first upside reference level, followed by 160.00.
GBP/USD
No significant large expiries today.
USD/CHF
No significant large expiries today.
USD/CAD
No significant large expiries today.
AUD/USD
● 0.6950 (A$1.6B) Largest
・0.7000 (A$780M)
Spot is currently 0.7032.
The nearest expiry is located at 0.7000.
Although the 0.6950 expiry is larger, the psychological 0.7000 level is likely to be the first important short-term reference point.
A break below 0.7000 could increase downside pressure toward 0.6950.
NZD/USD
No significant large expiries today.
EUR/GBP
No significant large expiries today.
■ Next Business Day Expiries | August 4
EUR/USD
・1.1400 (€870M)
● 1.1450 (€2.4B) Largest
・1.1500 (€1.2B)
・1.1550 (€940M)
Spot is currently 1.1534.
A large €2.4 billion expiry is scheduled at 1.1450 tomorrow.
However, expiries are also located close to spot at 1.1500 and 1.1550, making the 1.1500–1.1550 area a potential short-term focal range.
USD/JPY
● 157.00 ($750M) Largest
・159.00 ($540M)
Spot is currently 156.40.
The 157.00 expiry is relatively close to the current market price and may become the first upside target if USD/JPY rebounds.
USD/CAD
● 1.4050 ($1.3B) Largest
Spot is currently 1.4030.
This level is only around 20 pips above spot, increasing the likelihood of price action gravitating toward or consolidating around 1.4050 tomorrow.
AUD/USD
・0.6950 (A$620M)
● 0.7000 (A$1.5B) Largest
Spot is currently 0.7032.
A large A$1.5 billion expiry is scheduled at 0.7000 tomorrow, making this level a potential center of gravity ahead of the New York cut.
EUR/GBP
● 0.8500 (€690M) Largest
・0.8580 (€560M)
Spot is currently 0.8561.
The current price is positioned between the two option levels.
In the short term, 0.8580 may act as an upside reference, while 0.8500 may provide a downside target or support area.
■ Overall Market Structure
・EUR/USD is focused on today’s 1.1500 expiry and tomorrow’s larger 1.1450 expiry.
・Today’s USD/JPY expiries are far from spot, so their immediate influence is likely to be limited.
・The 0.7000 level is an important turning point for AUD/USD both today and tomorrow.
・Tomorrow’s USD/CAD expiry at 1.4050 is close to spot and may have a greater influence on price action.
■ Trading Strategy
EUR/USD
・A move back toward 1.1500 should remain a key consideration today.
・If 1.1500 holds, the pair may have room to rebound toward 1.1550.
・Tomorrow’s large 1.1450 expiry also requires attention.
USD/JPY
・Because today’s option levels are far from spot, fundamentals and interest-rate movements are likely to remain the main drivers.
・On a rebound, watch 157.00 first, followed by 158.60.
AUD/USD
・The 0.7000 level is the key short-term dividing line.
・A break below 0.7000 would increase the risk of a decline toward 0.6950.
・If 0.7000 holds, range-bound trading may continue.
USD/CAD
・A move toward tomorrow’s 1.4050 expiry may become increasingly important.
・Price action may remain relatively contained in the lower 1.4000 area.
■ Summary
Today’s key option levels are:
● EUR/USD 1.1500 (€1.7B)
● AUD/USD 0.6950 (A$1.6B)
● USD/JPY 160.00 ($1.6B)
However, the large USD/JPY expiry is significantly above the current market price, so its direct influence on today’s trading is likely to remain limited.
The levels closest to spot and therefore more likely to affect price action are EUR/USD at 1.1500 and AUD/USD at 0.7000.
With EUR/USD trading at 1.1534, a move back toward 1.1500 may be increasingly relevant ahead of the New York cut.
For AUD/USD, whether the pair can hold above 0.7000 will be the key short-term directional signal.
