Options players are gearing up for the FOMC – Forex options expiries 20 March 2018

Today’s Forex option expiries for the 10 am (14.00 GMT) New York cut 20 March 2018

AUDUSD has a large expiry today and that’s currently right where the price is pinned.

We’ve also got a big pre-FOMC expiry tomorrow in USDJPY. There’s currently 3.19bn going off at 106.00 and it’s fairly evenly split between calls and puts, but with the puts edging it (1.34bn calls, 1.85bn puts). There’s also 1.45bn at 104.00, and all those are puts. All this shows that the market is covering any downside to the dollar before the FOMC. After, it’s a different story as all the main strikes are to the up side. The biggest downside expiry is 650m at 103.20 which are all puts. The biggest calls are 106.40 & 107.40 for just over 600m apiece.