A monster set of Forex options expiries today

Forex options expiring at the 10am (15.00 GMT) New York cut 21 December 2018

There’s so much expiring today I had to do two sheets.

Forex options expiries

What should we make of all this?

We’ve got a lot of year-end roll offs. Some of these (more so the ones well out the money) are probably old hedges that firms might have taken better rates on during the year, so they will be happy to let them roll off worthless, so no need to fight for them. There will also be bets for Brexit and the central bank meetings among these too.
It’s not really year-end but the trading days after today will be very thin, and no one wants to be putting through big deals in thin markets or they’ll just get caned on the fills.
In EURUSD there’s far too many large ones to even try and think about what the price or traders might do. Sometimes having so many just cancels each other out. We might as well have none. Plus the C/P ratios are all over the place so we can’t even get a clue from those.

Overall, the bigger ones might have a pull, especially in USDJPY as they’re spread out. Some of the other options (like the higher GBPUSD’s) are just there to show the wider picture of what’s going on today.

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