Today’s Option Market Overview 14 August 2026
Spot Prices
EUR/USD: 1.1540
USD/JPY: 159.23
GBP/USD: 1.3499
USD/CHF: 0.8135
USD/CAD: 1.3909
AUD/USD: 0.7064
NZD/USD: 0.5866
EUR/GBP: 0.8547
Today, 14 August
EUR/USD
・1.1425 (€520 million)
・1.1450 (€770 million)
・1.1490 (€1.2 billion)
・1.1500 (€1.6 billion)
・1.1540 (€900 million)
・1.1545 (€630 million)
● 1.1550 (€1.4 billion) Largest
・1.1600 (€750 million)
The current price is 1.1540.
The following option levels are very close to the current price:
● 1.1540 (€900 million)
● 1.1545 (€630 million)
● 1.1550 (€1.4 billion)
This structure may keep price action contained around 1.1540–1.1550 heading into the New York cut.
Although 1.1500 has the largest notional amount at €1.6 billion, 1.1550 is more important in the short term because of its proximity to the current price.
USD/JPY
● 158.00 ($1.9 billion) Largest
・159.50 ($600 million)
・160.00 ($1.4 billion)
The current price is 159.23.
The closest level is 159.50, with a $1.4 billion option at 160.00 above. The largest option is at 158.00, worth $1.9 billion.
In the short term, the 159.50–160.00 zone is likely to be the main focus. However, if dollar selling strengthens, 158.00 could emerge as a major downside target.
GBP/USD
● 1.3510 (£620 million) Largest
The current price is 1.3499.
The strike is only around 11 pips above the current price, making a move back toward 1.3510 likely to be watched closely.
USD/CHF
● 0.8155 ($750 million) Largest
The current price is 0.8135.
The strike is around 20 pips above the current price, making 0.8155 a potential short-term upside target.
USD/CAD
・1.3975 ($570 million)
● 1.4100 ($1.4 billion) Largest
The current price is 1.3909.
Both option levels are above the current price. In particular, 1.4100 is large but remains some distance away, so its short-term influence is likely to be limited.
AUD/USD
・0.7000 (A$510 million)
● 0.7100 (A$670 million) Largest
The current price is 0.7064.
AUD/USD is positioned between 0.7000 and 0.7100, making this range important. In the short term, the closer 0.7100 level may attract slightly more attention.
NZD/USD
There are no notably large options today.
EUR/GBP
There are no notably large options today.
Next Business Day, 17 August
EUR/USD
● 1.1500 (€2.3 billion) Largest
・1.1680 (€550 million)
There is a large €2.3 billion option at 1.1500 for the next business day. As this level is relatively close to the current price, it will be an important downside point at the start of next week.
USD/JPY
● 158.00 ($2.2 billion) Largest
・159.00 ($2.1 billion)
The current price is 159.23.
Very large options are positioned at both 158.00 and 159.00. Since 159.00 is close to the current price, a move back toward 159.00 is likely to be strongly watched at the start of next week.
USD/CAD
● 1.3975 ($650 million) Largest
The current price is 1.3909.
This level may become an upside target if USD/CAD moves higher.
AUD/USD
● 0.7100 (A$560 million) Largest
The current price is 0.7064.
The 0.7100 level remains an important upside point at the start of next week.
■ Overall Picture
● EUR/USD: 1.1540–1.1550 is close to the current price and likely to act as a pinning zone today.
● USD/JPY: 159.50–160.00 is the nearest central zone, while 158.00 has a large $1.9 billion option.
● GBP/USD: 1.3510 is extremely close to the current price.
● AUD/USD: The 0.7000–0.7100 range is clearly defined.
● Next business day: Large options are concentrated at USD/JPY 158.00–159.00 and EUR/USD 1.1500.
■ Trading Strategy
EUR/USD
● Focus on the 1.1540–1.1550 range.
● A clear break above 1.1550 would shift focus toward 1.1600.
● On the downside, 1.1500 is an important potential support level.
USD/JPY
● Watch for a short-term move back toward 159.50.
● A break above 159.50 could open the way toward 160.00.
● If dollar selling strengthens, watch for the large option at 158.00.
GBP/USD
● Focus on a move back toward 1.3510.
● This is one of today’s pairs most likely to remain contained near its option level.
AUD/USD
● Focus on the 0.7000–0.7100 range.
● Watch for upside resistance as the pair approaches 0.7100.
■ Summary
Today’s key option levels are:
● USD/JPY: 158.00 ($1.9 billion)
● EUR/USD: 1.1500 (€1.6 billion)
● EUR/USD: 1.1550 (€1.4 billion)
● USD/CAD: 1.4100 ($1.4 billion)
However, considering proximity to current spot prices, the levels most likely to influence the New York cut are EUR/USD at 1.1540–1.1550, GBP/USD at 1.3510, and USD/JPY around 159.50.
EUR/USD is particularly notable because the current price of 1.1540 is almost exactly aligned with its option level. Price action is therefore likely to remain centered around 1.1540–1.1550 today.
For USD/JPY, very large options are concentrated at 158.00 and 159.00 at the start of next week, making both today’s price action and early next week’s trading important to watch.
