The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

FX news: Large EUR/USD strikes expiring tonight on CME

Will Patrick at the CME points out that today (Friday June 4) is the monthly FX options expiry day on the CME and that the exchange has a few notable strikes rolling off. Note that “the majority are rolling off at 2pm Chicago, which is 3pm NY, 8pm London” as opposed to the 10am NY OTC market cut.


The two biggest strikes are:

2pm Chicago 1.2200 puts in €1.5 billion

2pm Chicago 1.1850 puts in €1.5 billion.


The 1.22s were apparently part of the once popular 1.2200/1.6000 strangle which, at its height, had open interest of €7 billion. Unless US payrolls are way off consensus the market might find 1.2200 rather sticky today.


There is also talk of large double-no-touch expiry in the OTC market: the range was generally said to be 1.2100/1.2500.




Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to Euromoney.com and Asiamoney.com analysis and receive expertly-curated updates direct to your inbox.

 

Already a user?

Login now

 

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree