Today’s Options Overview
October 23, 2026
Spot Rates
- EUR/USD: 1.1210
- USD/JPY: 156.87
- GBP/USD: 1.3388
- USD/CHF: 0.8214
- USD/CAD: 1.4010
- AUD/USD: 0.7006
- NZD/USD: 0.5691
- EUR/GBP: 0.8371
Today — October 23
EUR/USD
- 1.1125: €531 million
- 1.1150: €556 million
- 1.1175: €615 million
- 1.1200: €755 million
- 1.1250: €836 million
- 1.1255: €938 million
- 1.1300: €1.2 billion — largest
- 1.1350: €619 million
The current rate is 1.1210.
The nearest strike is 1.1200, about 10 pips below spot. The first point to watch today is whether the pair approaches 1.1200 and then settles around that level.
If EUR/USD falls below 1.1200 and fails to recover, the next listed strikes are 1.1175, about 35 pips lower, and then 1.1150.
On a rebound, 1.1250 is about 40 pips above spot, with 1.1255 about 45 pips above. These strikes total €1.774 billion and form an important zone if the pair rises toward them.
The largest option, at 1.1300, is about 90 pips above spot. Focus first on 1.1200, then watch 1.1250–1.1255 and 1.1300 if the rebound extends.
USD/JPY
- 155.00: $1.2 billion
- 156.00: $538 million
- 157.00: $1.5 billion — largest
- 158.25: $786 million
- 158.45: $1.0 billion
- 159.00: $893 million
The current rate is 156.87.
The largest option, at 157.00, is about 13 pips above spot. Its size and proximity make it an important level today.
Watch for USD/JPY to gravitate toward 157.00 or trade back and forth around that level ahead of the New York cut.
Even if the pair breaks above 157.00, the next listed strike at 158.25 is some distance away. A break of 157.00 alone does not justify expecting a move all the way to 158.25.
To the downside, 156.00 is about 87 pips below spot and 155.00 about 187 pips below. For now, focus on the reaction around 157.00.
GBP/USD
- 1.3400: £891 million
The current rate is 1.3388.
The 1.3400 strike is nearby, about 12 pips above spot, making it a short-term level to watch today.
Monitor whether the pair approaches 1.3400 ahead of the New York cut and whether trading settles around that level. If it breaks above and holds, treat that as a move away from the option level rather than assuming the price will return to it.
USD/CHF
- 0.8245: $1.4 billion
The current rate is 0.8214.
The 0.8245 strike is about 31 pips above spot. Its size makes it an important level to watch during a rebound.
If the pair approaches the strike, check whether gains are capped or whether it breaks above and holds. The presence of the option alone does not mean USD/CHF will rise toward 0.8245.
USD/CAD
- 1.4000: $801 million
- 1.4075: $1.3 billion — largest
- 1.4100: $630 million
The current rate is 1.4010.
The 1.4000 strike is close, about 10 pips below spot, and is the first level to watch today. Check whether the pair finds support there or breaks below and moves further down.
The largest strike, 1.4075, is about 65 pips above spot, followed by 1.4100, about 90 pips above. These are levels to watch if the pair rebounds, but for now the reaction at 1.4000 takes priority.
AUD/USD
- 0.7000: A$669 million
The current rate is 0.7006.
The 0.7000 strike is very close, about 6 pips below spot.
Watch whether the pair gravitates toward 0.7000 or settles around that level ahead of the New York cut.
If AUD/USD clearly breaks below 0.7000 and fails to recover, follow the price action rather than assuming the option will provide support.
NZD/USD
- 0.5740: NZ$819 million
The current rate is 0.5691.
The 0.5740 strike is about 49 pips above spot. Treat it as a level to monitor if the pair rebounds, rather than as a direct influence on the current price.
EUR/GBP
No notable options are listed for today.
Next Business Day — October 26
EUR/USD
- 1.1100: €1.5 billion — largest
- 1.1200: €874 million
- 1.1245: €601 million
- 1.1250: €1.1 billion
- 1.1300: €691 million
Based on the current spot rate, the nearest strike is 1.1200, about 10 pips below. It is listed both today and for the next business day, so watch the reaction if the pair approaches it again early next week.
To the upside, 1.1245 is about 35 pips above spot and 1.1250 about 40 pips above. Together, they total €1.701 billion and form a zone to watch during a rebound.
The largest option, at 1.1100, is about 110 pips below spot. Treat it as a level to monitor in the event of a deeper decline. For nearer-term moves, prioritize 1.1200 and the 1.1245–1.1250 zone.
USD/JPY
- 158.00: $3.1 billion — largest
- 158.50: $1.5 billion
Based on the current spot rate, 158.00 is about 113 pips above and 158.50 about 163 pips above.
The large $3.1 billion option at 158.00 is some distance from the current rate, so it is less likely to anchor price action near spot.
Watch these levels if USD/JPY rebounds toward 158.00 early next week. The size of the option alone is not a reason to expect the pair to rise toward 158.
AUD/USD
- 0.6950: A$919 million — largest
- 0.6980: A$504 million
- 0.7025: A$536 million
Based on the current spot rate, 0.7025 is about 19 pips above and 0.6980 about 26 pips below.
Early next week, watch how AUD/USD reacts if it approaches either of these strikes.
The largest option, at 0.6950, is about 56 pips below spot. It is the next listed level if the pair falls below 0.6980 and continues lower.
GBP/USD, USD/CHF, USD/CAD, NZD/USD and EUR/GBP
No notable options are listed for the next business day.
Overall Picture
Today, AUD/USD’s 0.7000 strike is about 6 pips below spot. EUR/USD’s 1.1200 and USD/CAD’s 1.4000 are each about 10 pips below, making them close to the current market.
GBP/USD’s 1.3400 strike is about 12 pips above spot, while USD/JPY’s 157.00 strike is about 13 pips above. The 157.00 USD/JPY strike is the largest listed for today, making it notable for both its size and proximity.
EUR/USD has a combined €1.774 billion at 1.1250–1.1255, a zone to watch during a rebound. USD/CHF’s 0.8245 strike, with $1.4 billion, is another level to monitor if the pair rises.
Early next week, EUR/USD’s 1.1200 and AUD/USD’s 0.6980 and 0.7025 are relatively close to spot. USD/JPY has a large $3.1 billion option at 158.00, but it is some distance from the current rate.
Trading Strategy
- EUR/USD: Watch the reaction at 1.1200. If the pair holds and rebounds, monitor 1.1250–1.1255. If it breaks below 1.1200 and fails to recover, 1.1175 is the next reference level.
- USD/JPY: Monitor the approach to 157.00 and whether the pair holds there. Pay attention to whether trading continues around that level or price breaks away and establishes a direction.
- GBP/USD and USD/CAD: Watch the reactions at 1.3400 and 1.4000, respectively. Even when an option strike is nearby, do not assume the price will return to it after a decisive break.
- AUD/USD: The key question is whether 0.7000 holds. Early next week, also watch 0.6980 below and 0.7025 above.
