Large option contracts rolling off today and in play 11 May
Further to my regular daily heads-up here's another reminder that we have a few large contracts casting a shadow over proceedings again.
EURUSD:1.0875-85 ( EUR 847m) 1.0900 (1.3bln) 1.0925-30 (913m) 1.1000 (1.575bln) 1.1040-50 (2bln)
USDJPY: 112.50 (USD 1.2bln) 113.50-60 (521m) 114.00 (1.3bln)
GBPUSD: 1.3000 (GBP 513m)
AUDUSD: 0.7400 (AUD 1.3bln)
USDJPY falling through 114.00 to 113.85 may not be coincidental with GBP softer tones potentially giving the pair a helping hand through GBPJPY sales. Yen pair selling across the board notable too though.
Congestion on EURUSD but again no coincidence that we've capped so far at 1.0893
Remember that these are "vanilla" options so still in play right up to expiry at 14.00 GMT on the day even if breached in the meantime, unlike barrier options which cease to be once hit.
For my latest post on how to use this info click here.
