Today’s Options Situation
October 21, 2026
Spot Rates
- EUR/USD: 1.1223
- USD/JPY: 158.08
- GBP/USD: 1.3372
- USD/CHF: 0.8255
- USD/CAD: 1.4062
- AUD/USD: 0.7009
- NZD/USD: 0.5672
- EUR/GBP: 0.8392
Today — October 21
EUR/USD
- 1.1100: €1.3 billion
- 1.1195: €2.3 billion — largest
- 1.1200: €2.0 billion
- 1.1225: €915 million
- 1.1260: €576 million
- 1.1270: €1.4 billion
- 1.1325: €663 million
Spot is 1.1223.
The nearest strike, 1.1225, is about 2 pips above spot and is the immediate focal point today. As the New York cut approaches, watch for price action to gravitate toward or consolidate around 1.1225.
To the downside, 1.1200 is about 23 pips below spot and 1.1195 is about 28 pips below. A combined €4.3 billion is concentrated at these two strikes, making this the most important zone today.
If the pair cannot hold around 1.1225 and moves lower, watch its approach to 1.1195–1.1200 and the reaction there. On a rebound, 1.1260 and then 1.1270 are the next listed levels.
USD/JPY
- 156.50: $1.3 billion
- 158.00: $1.6 billion — largest
- 158.50: $550 million
- 159.50: $746 million
- 160.25: $1.2 billion
Spot is 158.08.
The largest option is $1.6 billion at 158.00, just 8 pips below spot. It is one of the most important levels today.
As the New York cut approaches, watch for price action to gravitate toward or consolidate around 158. Check whether the pair holds above 158.00 and rebounds, or breaks below and remains there.
The next listed strike to the upside is 158.50, about 42 pips above spot. The 156.50 strike is around 158 pips below, so the immediate focus is the battle around 158.00.
GBP/USD
- 1.3210: £872 million
Spot is 1.3372.
The 1.3210 strike is around 162 pips below spot. Its direct influence on price near current levels today is limited.
AUD/USD
- 0.6950: A$790 million — largest
- 0.6955: A$544 million
Spot is 0.7009.
The strikes are around 54 and 59 pips below spot. A combined A$1.334 billion is concentrated in this area, making it a zone to watch if the pair falls.
The zone is some distance from spot, so first watch whether AUD/USD approaches it. If it does, monitor whether the pair finds support or breaks below and remains there.
EUR/GBP
- 0.8440: €742 million
- 0.8520: €1.3 billion — largest
Spot is 0.8392.
The 0.8440 strike is about 48 pips above spot and is the first listed level to watch on a rebound.
The largest option, at 0.8520, is around 128 pips above spot. For now, focus on the approach to 0.8440 and the reaction there.
No notable options are listed today for USD/CHF, USD/CAD, or NZD/USD.
Next Business Day — October 22
EUR/USD
- 1.1100: €1.2 billion
- 1.1165: €1.1 billion
- 1.1180: €2.6 billion
- 1.1200: €2.2 billion
- 1.1220: €643 million
- 1.1235: €651 million
- 1.1250: €711 million
- 1.1255: €698 million
- 1.1300: €4.1 billion — largest
- 1.1305: €2.0 billion
Using the current spot rate, 1.1220 is around 3 pips below and is the nearest level, making it the first potential focal point tomorrow.
To the upside, 1.1235 is about 12 pips above spot, while 1.1250–1.1255 is around 27–32 pips above. If the rebound continues, watch the reaction at these levels in sequence.
To the downside, 1.1200 is about 23 pips below spot and 1.1180 is about 43 pips below. A combined €4.8 billion is concentrated at these two strikes, making them an important zone if the pair declines.
The largest option is €4.1 billion at 1.1300. Combined with the adjacent 1.1305 strike, the total is €6.1 billion. However, these strikes are around 77–82 pips above spot, so the immediate focus remains the area around 1.1220.
USD/JPY
- 157.00: $966 million
- 157.25: $663 million
- 157.35: $1.0 billion
- 157.50: $1.7 billion
- 157.75: $562 million
- 158.00: $916 million
- 158.05: $847 million
- 158.15: $702 million
- 158.25: $1.0 billion
- 158.35: $666 million
- 158.50: $1.0 billion
- 158.75: $1.2 billion
- 159.00: $1.8 billion — largest
The 158.05 strike is about 3 pips below spot, while 158.15 is around 7 pips above. These strikes sit close on either side of the current rate. A combined $2.465 billion is concentrated between 158.00 and 158.15, making this the immediate focal zone tomorrow.
Options are lined up above spot from 158.25 through 159.00. If the pair rises, monitor 158.25, 158.50, 158.75, and the largest strike at 159.00 in sequence.
To the downside, 157.75 is about 33 pips below spot, followed by 157.50, which has $1.7 billion in options. If USD/JPY falls below 158.00 and fails to recover, these are the next levels to watch.
AUD/USD
- 0.7000: A$812 million — largest
- 0.7015: A$547 million
- 0.7100: A$546 million
The 0.7000 strike is about 9 pips below spot, while 0.7015 is around 6 pips above. These strikes bracket the current rate. A combined A$1.359 billion is concentrated between 0.7000 and 0.7015, making this the short-term focal zone tomorrow.
The 0.7100 strike is about 91 pips above spot and may become relevant if the pair rebounds substantially.
Overall Picture
Today’s immediate focal levels are 1.1225 in EUR/USD and 158.00 in USD/JPY.
For EUR/USD, a combined €4.3 billion is concentrated at 1.1195–1.1200 below spot, making this the key downside zone.
Tomorrow, the levels closest to spot are 1.1220 in EUR/USD, 158.00–158.15 in USD/JPY, and 0.7000–0.7015 in AUD/USD.
Among the larger option concentrations, a combined €6.1 billion is located at 1.1300–1.1305 in EUR/USD tomorrow. This zone will matter if the pair makes a substantial rebound.
Trading Considerations
- EUR/USD: Watch price action around 1.1225. If the pair falls, focus on 1.1200–1.1195; if it rebounds, monitor the reaction at 1.1260–1.1270.
- USD/JPY: Watch whether the pair holds above 158.00 and rebounds, or breaks below and fails to recover. Tomorrow, the nearby 158.00–158.15 zone will be the main focus.
- AUD/USD: Tomorrow’s 0.7000–0.7015 zone is closer to spot than today’s 0.6950–0.6955 zone. Watch whether the pair holds 0.7000 and whether it can break above and remain above 0.7015.
- EUR/GBP: Use 0.8440 as the first reference level on a rebound, and watch whether the advance continues after the pair approaches it.
