FX Options Overview
October 16, 2026
Spot Rates at the Time of Publication
EUR/USD 1.1212 | USD/JPY 158.13 | GBP/USD 1.3269 | USD/CHF 0.8279 | USD/CAD 1.4195 | AUD/USD 0.6921 | NZD/USD 0.5623 | EUR/GBP 0.8449
Today — October 16
EUR/USD
1.1160 — EUR 765 million
1.1200 — EUR 1.30 billion
1.1225 — EUR 2.30 billion (largest)
1.1350 — EUR 531 million
Current spot: 1.1212
Spot is bracketed by 1.1200, about 12 pips below, and 1.1225, about 13 pips above. These are today’s closest and most relevant levels. The largest expiry is at 1.1225, with EUR 2.30 billion. Together, 1.1200 and 1.1225 total EUR 3.60 billion, so monitor consolidation within this range or a move away from it into the New York cut. If EUR/USD breaks below 1.1200 and cannot recover, 1.1160, about 52 pips lower, is the next reference. The 1.1350 strike is about 138 pips above spot and has limited immediate influence.
USD/JPY
157.00 — USD 680 million
158.00 — USD 925 million
Current spot: 158.13
The 158.00 strike is about 13 pips below spot and is the nearest level. Watch whether USD/JPY holds above 158.00 or is drawn back toward it as the New York cut approaches. If price falls below 158.00 and fails to recover, 157.00, about 113 pips lower, is the next reference. Options positioning alone does not determine direction.
USD/CHF
0.8285 — USD 560 million
Current spot: 0.8279
The 0.8285 strike is about 6 pips above spot, making it a nearby level to watch on a rebound. Check whether USD/CHF reaches and holds above it or is rejected. This expiry is a reference point, not a directional signal.
AUD/USD
0.6950 — AUD 714 million
Current spot: 0.6921
The 0.6950 strike is about 29 pips above spot. It is a reference if AUD/USD rebounds. Watch the price reaction as it approaches; the options data alone does not imply that a rebound will occur.
EUR/GBP
0.8450 — EUR 749 million
Current spot: 0.8449
The 0.8450 strike is about 1 pip above spot and nearly aligned with the current rate. Monitor whether EUR/GBP consolidates around 0.8450, moves above and holds, or turns lower. Consider relative moves in both the euro and sterling alongside the expiry.
Other Currency Pairs
GBP/USD and USD/CAD have no notable option expiries listed for today.
Next Business Day — October 19
Distances below are measured from the spot rates listed above.
EUR/USD
1.1175 — EUR 510 million
1.1180 — EUR 633 million
1.1200 — EUR 925 million
1.1260 — EUR 762 million
1.1280 — EUR 562 million
1.1300 — EUR 1.30 billion (largest)
The 1.1200 strike is about 12 pips below spot and is the nearest listed level. If spot remains near current levels, monitor whether EUR/USD holds around 1.1200 or moves away. Above spot, 1.1260 is about 48 pips higher, followed by 1.1280 at about 68 pips and the largest expiry, 1.1300, about 88 pips higher. Below 1.1200, 1.1180 and 1.1175 are the next references, about 32 and 37 pips below spot.
USD/JPY
157.15 — USD 554 million
The 157.15 strike is about 98 pips below spot. Its direct influence near current levels is limited, but it may be a downside reference if USD/JPY declines.
GBP/USD
1.3435 — GBP 550 million
The 1.3435 strike is about 166 pips above spot and has limited immediate influence. Monitor it only if GBP/USD advances substantially.
USD/CHF
0.8300 — USD 1.00 billion
The 0.8300 strike is about 21 pips above spot and is the closest listed level for the next business day. If USD/CHF rises, watch its approach and reaction around 0.8300.
AUD/USD
0.6950 — AUD 560 million
0.6970 — AUD 757 million
0.6975 — AUD 811 million
0.7010 — AUD 508 million
The nearest strike, 0.6950, is about 29 pips above spot. The 0.6970 and 0.6975 strikes are about 49 and 54 pips higher, forming a nearby zone if the pair rebounds. The 0.7010 strike is about 89 pips above spot. Treat these levels as references if price moves higher, not as a forecast.
Other Currency Pairs
No notable option expiries are listed for USD/CAD, NZD/USD, or EUR/GBP on the next business day.
Overall Picture
For today, EUR/USD’s 1.1200–1.1225 range is the main options zone: the two strikes bracket spot and total EUR 3.60 billion. USD/JPY’s 158.00, USD/CHF’s 0.8285, and EUR/GBP’s 0.8450 are also close to spot. These expiries may influence trading near the New York cut, but they should not replace the prevailing market direction.
For October 19, the closest references include EUR/USD 1.1200, USD/CHF 0.8300, and AUD/USD 0.6950. The larger EUR/USD 1.1300 expiry is farther away, about 88 pips above the listed spot.
Trading Strategy
EUR/USD: For today, monitor the reaction between 1.1200 and 1.1225. A sustained break above 1.1225 puts 1.1350 farther up the list, while a break below 1.1200 that fails to recover brings 1.1160 into focus. For October 19, 1.1200 is the nearest reference; assess whether price holds before looking toward higher strikes.
USD/JPY: Watch whether 158.00 acts as nearby support or whether price falls below it and struggles to recover. The next listed downside reference is 157.00. For October 19, 157.15 is substantially below spot and becomes relevant only if the decline extends.
USD/CHF: The 0.8285 strike is close above spot today. For the next business day, 0.8300 is the nearby upside reference. Confirm the price reaction at each level.
AUD/USD: Today, 0.6950 is a rebound reference. The same strike is listed for October 19, with additional expiries at 0.6970 and 0.6975 forming a higher zone if the recovery extends.
EUR/GBP: Today, 0.8450 is nearly aligned with spot. Watch whether the pair holds around this level or moves away, while tracking relative euro and sterling strength.
