Today’s forex option expiries for the 10 am (15.00 GMT) New York cut 23 November 2017
Well, well, well, guess what’s popped up? Yesterday I surmised that we could see some barrier chatter in USDJPY at 110.00 and lo and behold, we’ve now got confirmation that there is. What’s also worth noting is that 820m of the 111’s, the 575m at 110.70 & the 716m at 109.55/65 are all put options. Usually it’s a pretty mixed bag. The 111’s are particularly interesting given where we are in spot right now. If the buyer wants to get into profit they need to get the price below at expiry, so we know what direction that will be from here. There’s no guarantees that will happen but given the thinner liquidity due to the US thanksgiving holiday, it may cost options players less money than usual to move prices in their favour. We have seen some substantial and definitive options related moves this week which further highlights that liquidity may not be at it’s best right now.
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