📊 FX Option Landscape — September 10, 2025 (per pair, latest NY cut update)

📊 FX Option Landscape — September 10, 2025 (per pair, latest NY cut update)

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🇪🇺 EUR/USD (EUR notional)

• 1.1600: €1.1bn

• 1.1650: €1.8bn ✅

• 1.1680: €906m

• 1.1800: €1.2bn

📌 Focus:

• The 1.1650 strike (€1.8bn, largest concentration) stands out as a strong magnet zone.

• Options cluster heavily across the 1.16 handle, raising risk of price gravitating around 1.1650 into NY cut.

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🇺🇸 USD/JPY (USD notional)

• 146.00: $860m

• 146.50: $1.1bn ✅

• 147.00: $834m

📌 Focus:

• 146.50 ($1.1bn) is the heaviest concentration.

• Expect intensified tug-of-war in the 146.00–146.50 zone, making 146.50 a likely “gravity point” into NY cut.

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🇨🇭 USD/CHF (USD notional)

• 0.7800: $790m

📌 Focus:

• Mid-sized single strike.

• Short-term pivot, likely to attract reactive flows around this level.

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🇦🇺 AUD/USD (AUD notional)

• 0.6535: A$736m

• 0.6550: A$1.1bn ✅

📌 Focus:

• 0.6550 (A$1.1bn) marks a key cap for AUD upside.

• Combined 0.6535–0.6550 strikes create short-term magnetic range pressure.

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🇨🇦 USD/CAD (USD notional)

• 1.3725: $502m

📌 Focus:

• Single mid-sized strike.

• Acts as a short-term reference level.

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🇳🇿 NZD/USD (NZD notional)

• 0.5800: NZ$525m

📌 Focus:

• Functions as a downside support marker.

• A break below raises risk of accelerated declines.

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👉 Key Takeaway:
Today’s most critical zones are EUR/USD 1.1650 (€1.8bn) and USD/JPY 146.50 ($1.1bn).
Both serve as NY cut magnets, guiding intraday ranges, with market focus on whether consolidation holds or a breakout occurs.

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⚖️ 15-minute Power Balance Snapshot:
AUD ＞ NZD = USD ＞ GBP ＞ CAD ＞ JPY ＞ EUR ＞ CHF