Forex option expiries for the 10am (15.00 GMT) New York cut 9 February 2018
We look to have some run-off from the RBA events this week with some big expiries in AUDUSD. To give you a bit more colour on them, pretty much all of the strikes are made up of calls;
- 0.7800 2.53bn
- 0.7900 1.85bn
- 0.8000 1.51bn
That means the buyers/holders need the spot price above these strikes to make money. The 0.79 & 0.080 strikes are probably well out of the game but the 0.7800 is in the crosshairs so we can expect a battle a little later. At the moment, I’m not surprised to see resistance at 0.7800, which is probably down to the seller/writer of these options defending his position (to keep the price under).
For more information about, read ‘An explanation of Forex options and their impact on currency markets’.
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