Today’s Option Overview
1 October 2026
Spot Rates
EUR/USD: 1.1320
USD/JPY: 158.29
GBP/USD: 1.3247
USD/CHF: 0.8362
USD/CAD: 1.4245
AUD/USD: 0.6948
NZD/USD: 0.5620
EUR/GBP: 0.8543
Options Expiring Today
1 October
EUR/USD
• 1.1200 (€1 billion)
• 1.1315 (€807 million)
• 1.1320 (€806 million)
• 1.1340 (€842 million)
• 1.1345 (€840 million)
• 1.1375 (€2 billion)
• 1.1380 (€820 million)
• 1.1400 (€1.3 billion)
• 1.1425 (€2.2 billion) Largest
• 1.1450 (€725 million)
• 1.1485 (€1.2 billion)
Spot is currently 1.1320.
The 1.1320 option coincides exactly with spot, while 1.1315 is around 5 pips below. Together, they total €1.613 billion, making 1.1315–1.1320 the nearest key zone today.
On a rebound, 1.1340–1.1345 is the next area to watch, around 20–25 pips above spot. Beyond that, attention turns to the €2 billion option at 1.1375.
The largest option, at 1.1425, is around 105 pips above spot. In the near term, the levels closest to the current price around 1.1320 are more relevant than the largest expiry.
USD/JPY
• 156.00 (US$1.4 billion)
• 156.07 (US$1.2 billion)
• 156.10 (US$1.3 billion)
• 156.50 (US$1.5 billion)
• 157.00 (US$1.5 billion)
• 157.20 (US$530 million)
• 157.75 (US$599 million)
• 158.00 (US$1.5 billion)
• 158.25 (US$1.9 billion) Largest
• 158.30 (US$765 million)
Spot is currently 158.29.
The 158.30 strike is around 1 pip above spot and 158.25 is around 4 pips below, placing spot almost exactly between them. The options at these two strikes total US$2.665 billion, making 158.25–158.30 today’s most important zone.
As the New York cut approaches, watch for two-way trading or price stabilisation within this narrow range.
If the pair falls away from this zone, 158.00, around 29 pips lower, is the next key level. With another US$1.5 billion at 158.00, price action in the lower part of the 158 range will also be important.
GBP/USD
• 1.3180 (£571 million)
• 1.3200 (£871 million) Largest
• 1.3250 (£711 million)
Spot is currently 1.3247.
The 1.3250 strike is only around 3 pips above spot, making it the near-term focal point today. Watch whether price action stabilises around 1.3250 as the New York cut approaches.
If GBP/USD declines, 1.3200, around 47 pips lower, is the next listed level.
USD/CAD
• 1.4150 (US$644 million)
Spot is currently 1.4245.
The 1.4150 strike is around 95 pips below spot, so its direct influence near the current price is likely to be limited. It is a level to watch if the pair falls further.
AUD/USD
• 0.6940 (A$710 million)
• 0.7030 (A$552 million)
• 0.7050 (A$987 million) Largest
Spot is currently 0.6948.
The 0.6940 strike is only around 8 pips below spot, making it an important level today. Watch for a move back towards 0.6940 as the New York cut approaches and monitor the market’s reaction if the pair tests it.
The largest option, at 0.7050, is around 102 pips above spot. In the near term, 0.6940 is the priority; if the rebound extends significantly, the 0.7030–0.7050 area comes into focus.
USD/CHF, NZD/USD and EUR/GBP
No notable options for today are listed.
Options Expiring the Next Business Day
2 October
EUR/USD
• 1.1375 (€2.1 billion)
• 1.1390 (€1.1 billion)
• 1.1400 (€795 million)
• 1.1450 (€2.6 billion) Largest
• 1.1500 (€1.7 billion)
Based on the current spot rate, even the nearest listed strike, 1.1375, is around 55 pips higher. All listed strikes are above spot, so they are levels to watch if EUR/USD rebounds towards them tomorrow.
The first major level is 1.1375, with €2.1 billion in options. Beyond that, 1.1390–1.1400 forms the next zone. The largest option, at 1.1450, is around 130 pips above spot and is more relevant in the event of a substantial rebound than as an immediate pinning level.
USD/JPY
• 156.00 (US$865 million)
• 156.50 (US$834 million)
• 157.00 (US$2.4 billion)
• 157.55 (US$530 million)
• 158.00 (US$2.7 billion) Largest
• 159.00 (US$561 million)
The largest option is at 158.00, with US$2.7 billion, around 29 pips below spot. This is the first key level to watch tomorrow.
If USD/JPY falls below 158.00, attention turns to 157.55 and then to 157.00, where US$2.4 billion in options are set.
On the upside, 159.00 is around 71 pips above spot. Watch whether price action stabilises around 158.00 or moves away from that level to establish a clearer direction.
Overall Picture
Several option strikes are close to spot today.
The most important zone is 158.25–158.30 in USD/JPY, where options total US$2.665 billion.
The near-term focal levels are 1.1315–1.1320 in EUR/USD, 1.3250 in GBP/USD and 0.6940 in AUD/USD.
Tomorrow, USD/JPY has large options at 158.00 (US$2.7 billion) and 157.00 (US$2.4 billion). For EUR/USD, 1.1375 is the first major level to watch if the pair rebounds.
Trading Strategy
For EUR/USD, monitor the reaction around 1.1315–1.1320. If the pair breaks above and holds, 1.1340–1.1345 is the next level to watch.
For USD/JPY, focus on the 158.25–158.30 zone. If the pair breaks below and fails to recover, pay close attention to its reaction around 158.00.
For GBP/USD, watch the pair’s test of 1.3250 and whether it can hold above that level.
For AUD/USD, monitor whether the pair finds support at 0.6940. If it breaks clearly below, prioritise the direction of price action rather than assuming the option will pull it back towards that level.
