Today’s FX Options Overview
October 7, 2026
Spot Rates at the Time of Publication
EUR/USD 1.1231
USD/JPY 158.38
GBP/USD 1.3249
USD/CHF 0.8331
USD/CAD 1.4222
AUD/USD 0.6970
NZD/USD 0.5606
EUR/GBP 0.8474
Today — October 7
EUR/USD
1.1100 EUR 800 million
1.1125 EUR 570 million
1.1200 EUR 850 million
1.1240 EUR 542 million
1.1245 EUR 545 million
1.1250 EUR 1 billion
1.1255 EUR 1.5 billion
1.1260 EUR 771 million
1.1270 EUR 1.1 billion
1.1300 EUR 3.6 billion (largest)
Current spot: 1.1231
The nearest strike is 1.1240, approximately 9 pips above spot. The next strike, 1.1245, is around 14 pips above. These are the first levels to watch on a rebound.
Today’s key zone is 1.1250–1.1255. A combined EUR 2.5 billion sits approximately 19–24 pips above spot. Watch for an approach to this zone ahead of the New York cut and potential consolidation once it is reached.
If the rally continues, monitor the reaction between 1.1260 and 1.1270. The entire 1.1250–1.1270 range contains a combined EUR 4.371 billion.
The largest expiry, at 1.1300, totals EUR 3.6 billion but is approximately 69 pips above spot. Prioritize the nearer cluster first, bringing 1.1300 into focus if the breakout continues.
On the downside, 1.1200 is approximately 31 pips below spot. It is the first level to watch if the pair fails to rebound and moves lower.
USD/JPY
158.00 USD 731 million
Current spot: 158.38
The 158.00 strike is approximately 38 pips below spot. It is a level to watch if the decline extends, but the options positioning alone does not strongly suggest a return to 158.00.
If spot approaches, watch whether the pair stabilizes around 158.00 or breaks below and fails to reclaim it.
AUD/USD
0.6935 AUD 609 million
0.6940 AUD 730 million (largest)
0.7050 AUD 705 million
Current spot: 0.6970
The 0.6940 strike is approximately 30 pips below spot, while 0.6935 is around 35 pips below. These two strikes total AUD 1.339 billion, forming a key zone to watch on a decline.
Watch whether the pair stabilizes in this zone or breaks below and fails to reclaim it.
On the upside, 0.7050 is farther away, approximately 80 pips above spot. It becomes a reference level if a substantial rebound develops.
NZD/USD
0.5550 NZD 615 million
Current spot: 0.5606
The 0.5550 strike is approximately 56 pips below spot. Its direct influence near the current price is limited, making it a level to watch if the decline extends.
Other Currency Pairs
GBP/USD, USD/CHF, USD/CAD, and EUR/GBP
No notable options information is available for today.
Next Business Day — October 8
The distances below are measured from the spot rates listed above.
EUR/USD
1.1285 EUR 801 million
1.1300 EUR 5.6 billion (largest)
The 1.1285 strike is approximately 54 pips above spot, while the largest expiry, at 1.1300, is around 69 pips above.
Although 1.1300 contains a large EUR 5.6 billion expiry, it remains some distance from the current price. If a rebound develops, watch the reaction first at 1.1285 and then at 1.1300.
The size alone does not provide a basis for expecting a rally to 1.1300. Treat it as a level to watch if spot approaches.
USD/JPY
157.00 USD 729 million
158.00 USD 1.2 billion
159.00 USD 3.2 billion (largest)
The nearest strike is 158.00, approximately 38 pips below spot, keeping the area around 158.00 in focus from today into the next business day.
On the upside, the largest expiry at 159.00 is approximately 62 pips above spot. If the rally extends, watch the approach to 159.00 and the reaction once it is reached.
On the downside, 157.00 is farther away, approximately 138 pips below spot. The initial focus is whether 158.00 holds.
USD/CAD
1.4100 USD 926 million
The 1.4100 strike is approximately 122 pips below spot. Its direct influence near the current price is limited, making it a level to watch if a substantial decline develops.
AUD/USD
0.6975 AUD 564 million
The 0.6975 strike is just 5 pips above spot, placing it very close to the current price.
If spot remains near this level on the next business day, it becomes the initial potential focal point. Watch whether the pair consolidates around 0.6975 or moves away in either direction.
Other Currency Pairs
GBP/USD, USD/CHF, NZD/USD, and EUR/GBP
No notable options information is available for the next business day.
Overall Picture
EUR/USD is today’s main focus. Strikes begin at 1.1240 on the upside, with a combined EUR 2.5 billion concentrated at 1.1250–1.1255.
The reaction at this cluster is important if a rebound develops. However, rather than assuming spot will approach the expiries, monitor the direction of price action and its behavior once the zone is reached.
For AUD/USD, the downside zone of 0.6935–0.6940 is in focus. For USD/JPY, watch the reaction if spot approaches 158.00.
For the next business day, AUD/USD’s 0.6975 strike is closest to current spot. EUR/USD has EUR 5.6 billion at 1.1300, while USD/JPY has USD 3.2 billion at 159.00. Both become relevant if spot approaches.
Trading Strategy
EUR/USD
On a rebound, monitor 1.1240 and 1.1245 before focusing on the reaction at 1.1250–1.1255. Watch whether the pair breaks above and holds or is pushed back. On a decline, 1.1200 is the key level to watch.
USD/JPY
Use 158.00 as the decision level on a decline. Watch whether the pair stabilizes there or can reclaim it after a break below. For the next business day, 159.00 is also a key level if the rally extends.
AUD/USD
Today, watch whether the pair stabilizes at 0.6935–0.6940 and whether it can reclaim the zone after a break below. For the next business day, focus on price action around 0.6975.
NZD/USD
Monitor 0.5550 if the decline extends. Rather than assuming a fall based on options positioning alone, assess the reaction if spot approaches.
