FX option expiries for April 14, at the New York cut at 10:00 Eastern Time, are available.
For EUR/USD, expiries are at 1.1050 for 435 million euros, 1.1300 for 438 million euros, 1.1345 for 560 million euros, and 1.1350 for 440 million euros.
Gbp Usd Notable Expiry
GBP/USD has an expiry at 1.3000 with 638 million British pounds.
AUD/USD has an expiry at 0.6550 amounting to 610 million Australian dollars.
USD/CAD positions include an expiry at 1.3825 amounting to 430 million US dollars.
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Expiry Effects And Market Influence
The figures shown refer to scheduled expiries in the FX options market, set for 10:00 AM Eastern Time—colloquially known as the New York cut. These expiring contracts involve specific strike levels and notional amounts, which together yield insight into where option-related interest is currently concentrated.
With EUR/USD, the strikes at 1.1300, 1.1345, and 1.1350 each amount to over 400 million euros in notional value. Of these, the 1.1345 mark stands out, given the largest volume of over half a billion euros—suggesting strong vested interest around upper resistance levels. Given the current spot positioning in the broader euro-dollar pair, these clusters near the higher range could add potential friction above, particularly if spot approaches from below. We continue to monitor whether delta hedging flows or positioning into the cut may introduce momentary volatility, especially as liquidity tends to thin out near the fix.
For the pound-dollar pair, there’s a 638 million expiry lined up at 1.3000. What’s notable here is the psychological round number the strike sits on. Cable has exhibited heightened sensitivity around these levels in recent trading days. Should price hover near this mark as we approach the cut, some pinning effect could be expected. From past patterns, such environments may limit upside or downside breaching movements temporarily, largely because gamma exposure for options sellers becomes more pronounced near expiry.
Over in AUD/USD, the 610 million expiry at 0.6550 again sits close to where price rediscovered some footing following last week’s softer-than-expected data out of Asia. With regional risk sentiment likely to play a role this week, eyes will be on how the spot behaves as it closes in on this level. If the Aussie hovers near 0.6550 entering the window leading into the New York cut, we expect what has often occurred in such scenarios—stability or whipsawing within a narrow band as dealers balance exposures.
With Loonie crosses, the most relevant level is 1.3825, accompanied by 430 million in notionals. This falls within a well-trodden zone from earlier this month. Recent macro updates from Canada haven’t dramatically reset trader expectations on rate differentials, so a revisit to this level could raise option-related flows again. When coupled with light calendar data and pre-emptive positioning around oil prices, it’s plausible this expiry induces measured volatility as hedging activity picks up into expiry.
It remains important not to treat each expiry as definitively directional—often, positioning acts to defend established levels rather than breach them. As such, we proceed with an eye on where open interest is most concentrated, but also how tactical flows and liquidity respond during reduced depth periods.
Given how expiry effects have at times delivered sharp intraday turns—particularly in more option-sensitive pairs—it seems wise over the next days to factor in these scheduled cuts during planning. Option expiry effects may not dominate trend structure every session, but when spot drifts toward strikes with large open interest, it frequently influences intraday rhythm through defensive hedging and closing exposures.
