Today’s Options Market — November 3, 2026

Spot Rates

EUR/USD: 1.1194
USD/JPY: 157.81
GBP/USD: 1.3412
USD/CHF: 0.8177
USD/CAD: 1.3967
AUD/USD: 0.6981
NZD/USD: 0.5626
EUR/GBP: 0.8346

Today — November 3

EUR/USD

1.1100 — EUR 700 million
1.1125 — EUR 1.2 billion
1.1140 — EUR 513 million
1.1150 — EUR 546 million
1.1200 — EUR 2.4 billion — largest
1.1220 — EUR 564 million
1.1225 — EUR 592 million
1.1250 — EUR 576 million
1.1255 — EUR 890 million
1.1260 — EUR 802 million
1.1300 — EUR 2.4 billion — largest

The current spot rate is 1.1194.

The nearest level is 1.1200, about 6 pips above spot. It is also the largest option listed for today, at EUR 2.4 billion, making it important both in size and distance.

As the New York cut approaches, watch whether the pair moves toward 1.1200 and how it trades around that level. If it breaks above and holds, the next listed levels are 1.1220, about 26 pips higher, and 1.1225, about 31 pips higher.

The combined options at 1.1220 and 1.1225 total EUR 1.156 billion. If the pair moves above 1.1200 and continues higher, watch whether trading settles in this zone.

Beyond that, 1.1250 is about 56 pips above spot, 1.1255 is about 61 pips above, and 1.1260 is about 66 pips above. The combined options at 1.1250–1.1260 total EUR 2.268 billion, making this an important zone if the rebound extends.

There is also EUR 2.4 billion at 1.1300, but it is about 106 pips above spot. For now, prioritize the reaction at 1.1200.

To the downside, 1.1150 is about 44 pips below spot, 1.1140 is about 54 pips below, 1.1125 is about 69 pips below, and 1.1100 is about 94 pips below. Even though 1.1200 is nearby, do not assume the pair will return to that level. If it moves lower, assess the downside momentum.

USD/JPY

157.95 — USD 856 million
158.00 — USD 951 million — largest

The current spot rate is 157.81.

The 157.95 level is about 14 pips above spot, and 158.00 is about 19 pips above. The combined options at these two levels total USD 1.807 billion.

A significant amount is concentrated in a narrow range close to spot, making 157.95–158.00 today’s key zone.

As the New York cut approaches, watch whether USD/JPY moves toward this zone and whether trading settles around it.

If the pair breaks above 158.00 and holds, treat that as a move away from the option zone to the upside. If it approaches but cannot hold there, assess whether the upward momentum can continue.

Both listed levels are above spot, but their positioning alone does not justify expecting a rise.

GBP/USD

No notable options are listed for today.

USD/CHF

0.8150 — USD 581 million
0.8285 — USD 1.1 billion — largest

The current spot rate is 0.8177.

The nearest level is 0.8150, about 27 pips below spot. If the pair falls toward it, watch whether trading settles or breaks below and moves lower.

The largest option, at 0.8285, is about 108 pips above spot. Since it is some distance away, treat it as a level to monitor if the pair makes a substantial rebound, rather than as a level likely to affect trading near current prices.

Although 0.8285 has the larger amount, prioritize the reaction at 0.8150 for now.

USD/CAD, AUD/USD

No notable options are listed for today.

NZD/USD

0.5675 — NZD 600 million

The current spot rate is 0.5626.

The 0.5675 level is about 49 pips above spot. It is a level to monitor if a rebound brings the pair closer.

Watch whether the advance stalls near the level or breaks above and holds. The presence of an option alone is not a reason to expect a move toward 0.5675.

EUR/GBP

0.8475 — EUR 861 million

The current spot rate is 0.8346.

The 0.8475 level is about 129 pips above spot. Since it is some distance away, treat it as a level to monitor if EUR/GBP makes a substantial rise, rather than as a level likely to affect trading near current prices.

Next Trading Day — November 4

EUR/USD

1.1100 — EUR 860 million
1.1200 — EUR 869 million
1.1225 — EUR 969 million
1.1250 — EUR 1.5 billion — largest
1.1270 — EUR 934 million
1.1300 — EUR 971 million

Using the current spot rate as a reference, the nearest level is 1.1200, about 6 pips above spot. It is listed for both today and the next trading day, so watch the reaction there across both expiries.

To the upside, 1.1225 is about 31 pips above spot, and the largest option, at 1.1250, is about 56 pips above. These levels are also listed for both days and are reference points if the pair breaks above 1.1200 and continues higher.

Beyond that, 1.1270 is about 76 pips above spot and 1.1300 is about 106 pips above. For now, prioritize 1.1200, followed by 1.1225 and 1.1250.

The 1.1100 level is about 94 pips below spot. There are few listed levels below the current price for the next trading day, so consider other price action as well if the pair falls.

USD/JPY

157.25 — USD 981 million
158.50 — USD 627 million
159.00 — USD 2.5 billion — largest

Using the current spot rate as a reference, 157.25 is about 56 pips below spot, while 158.50 is about 69 pips above.

If the pair falls toward 157.25, watch whether trading settles there or breaks below and fails to recover.

To the upside, if USD/JPY breaks above today’s 157.95–158.00 zone and continues higher, the next listed level is 158.50.

The largest option, at 159.00, is about 119 pips above spot. Although it is a large position at USD 2.5 billion, its distance from the current price means size alone does not justify expecting a move toward 159.00.

GBP/USD

1.3450 — GBP 682 million

Using the current spot rate as a reference, 1.3450 is about 38 pips above spot.

This is a level to monitor if the rebound continues. Watch whether trading settles near 1.3450 or breaks above and holds.

USD/CAD

1.3875 — USD 519 million

Using the current spot rate as a reference, 1.3875 is about 92 pips below spot.

Since it is some distance away, treat it as a level to monitor if the pair makes a substantial decline. Do not assume it will provide support near current prices.

AUD/USD

0.6900 — AUD 908 million
0.6950 — AUD 960 million — largest

Using the current spot rate as a reference, the nearest level is 0.6950, about 31 pips below spot. It is also the largest option listed for the next trading day, making it important if the pair falls toward it.

Watch whether trading settles around 0.6950 or breaks below and fails to recover.

The next level below is 0.6900, about 81 pips below spot. It is the next listed level if the decline continues below 0.6950. The levels are 50 pips apart, so a break below 0.6950 alone does not mean the pair will fall all the way to 0.6900.

EUR/GBP

0.8330 — EUR 1.4 billion
0.8365 — EUR 852 million
0.8375 — EUR 2.5 billion — largest

Using the current spot rate as a reference, 0.8330 is about 16 pips below spot and 0.8365 is about 19 pips above, placing these levels on either side of the current price.

If the pair falls, watch whether trading settles as it approaches 0.8330. If it rises, monitor 0.8365, followed by 0.8375, about 29 pips above spot.

The largest option, at 0.8375, is EUR 2.5 billion. Combined with the options at 0.8365, the total is EUR 3.352 billion. If the pair rises toward these levels, 0.8365–0.8375 will be an important zone.

Compared with today’s 0.8475 option, the levels for the next trading day are closer to spot. Prioritize the reaction at 0.8330 and 0.8365–0.8375.

USD/CHF, NZD/USD

No notable options are listed for the next trading day.

Overall Picture

Today, EUR/USD’s 1.1200 level is about 6 pips above spot and has the largest listed amount, EUR 2.4 billion. It is the central level to watch today in terms of both size and distance.

For USD/JPY, 157.95 is about 14 pips above spot and 158.00 is about 19 pips above. A combined USD 1.807 billion is concentrated in this zone. Watch whether the pair approaches and holds there as the New York cut approaches.

For USD/CHF, 0.8150 is about 27 pips below spot. The largest option at 0.8285 is farther away, so prioritize 0.8150 for now.

For the next trading day, EUR/USD’s 1.1200 remains nearby. EUR/GBP also has notable options around the current price: 0.8330 is about 16 pips below, 0.8365 is about 19 pips above, and the largest option at 0.8375 is about 29 pips above.

USD/JPY has USD 2.5 billion at 159.00, but that level is about 119 pips above spot. First monitor today’s 157.95–158.00 zone, then tomorrow’s 158.50 if the pair continues higher.

Trading Strategy

For EUR/USD, watch the approach to 1.1200 and whether the pair holds there. If it breaks above and holds, today’s next reference zone is 1.1220–1.1225, followed by 1.1250–1.1260. If it moves lower, treat today’s 1.1150 as the next listed level.

For USD/JPY, focus on the reaction at 157.95–158.00. Watch whether trading continues around the zone or breaks above 158.00 and holds. If the advance continues into the next trading day, monitor 158.50; if the pair falls, watch 157.25.

For USD/CHF, monitor the reaction if the pair approaches 0.8150. If it breaks below and cannot recover, assess whether the decline continues rather than assuming the option will provide support.

For AUD/USD, 0.6950 is the reference level if the pair falls into the next trading day. For EUR/GBP, watch whether 0.8330 holds and whether a rebound brings the pair toward 0.8365–0.8375.

Do not base a trade solely on price approaching an option level. Focus on whether trading settles near the level or breaks through and holds.