October 22, 2026
Spot Rates
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EUR/USD: 1.1240
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USD/JPY: 157.55
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GBP/USD: 1.3395
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USD/CHF: 0.8222
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USD/CAD: 1.4031
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AUD/USD: 0.7013
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NZD/USD: 0.5688
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EUR/GBP: 0.8390
Today — October 22
EUR/USD
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1.1100: €1.2 billion
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1.1165: €1.1 billion
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1.1180: €2.7 billion
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1.1200: €2.4 billion
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1.1220: €643 million
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1.1235: €722 million
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1.1250: €711 million
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1.1255: €698 million
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1.1300: €4.1 billion — largest
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1.1305: €2.0 billion
Spot is 1.1240.
The nearest strike is 1.1235, about 5 pips below spot. To the upside, 1.1250 is about 10 pips above and 1.1255 about 15 pips above. Today, focus first on the price action between 1.1235 and 1.1255.
The combined amount at 1.1250 and 1.1255 is €1.409 billion. If the pair rebounds toward this zone, watch whether the advance stalls or breaks above and holds.
To the downside, 1.1220 is about 20 pips below spot, followed by 1.1200 around 40 pips below. A combined €5.1 billion is concentrated at 1.1180 and 1.1200, making these important levels to monitor if the decline extends.
The largest option, at 1.1300, is about 60 pips above spot. Together with 1.1305, the total is €6.1 billion. However, for now, prioritize the nearer 1.1235–1.1255 zone.
USD/JPY
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157.00: $1.1 billion
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157.25: $739 million
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157.35: $1.1 billion
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157.50: $1.7 billion
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157.60: $604 million
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157.75: $562 million
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157.80: $609 million
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158.00: $1.3 billion
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158.05: $847 million
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158.15: $702 million
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158.25: $1.0 billion
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158.35: $756 million
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158.50: $1.0 billion
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158.75: $1.2 billion
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159.00: $1.8 billion — largest
Spot is 157.55.
The 157.50 strike is about 5 pips below spot, while 157.60 is about 5 pips above. Together, they total $2.304 billion and form today’s first key zone: 157.50–157.60.
As the New York cut approaches, watch whether the pair continues to trade within this range or breaks away in either direction.
If USD/JPY falls below 157.50, the next listed strikes are 157.35, about 20 pips below spot, and 157.25, about 30 pips below. Further down, 157.00 has $1.1 billion in options.
To the upside, 157.75–157.80 is the next zone, followed by 158.00. There is $1.3 billion at 158.00, making it an important level if the rebound extends.
The largest option, at 159.00, is about 145 pips above spot. Near current levels, 157.50–157.60 is more relevant.
AUD/USD
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0.7000: A$876 million — largest
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0.7010: A$524 million
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0.7015: A$709 million
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0.7100: A$546 million
Spot is 0.7013.
The 0.7015 strike is about 2 pips above spot, while 0.7010 is about 3 pips below. Together, they total A$1.233 billion, making 0.7010–0.7015 the short-term focal zone today.
The largest option, at 0.7000, is also nearby, around 13 pips below spot. Several strikes are clustered between the current rate and 0.7000.
If the pair falls, watch whether it can hold 0.7010, followed by whether 0.7000 provides support. If it clearly breaks below 0.7000, follow the price action rather than assuming the pair will return to that level.
The 0.7100 strike is about 87 pips above spot and is a reference level only if the pair makes a substantial rebound.
No notable options are listed today for GBP/USD, USD/CHF, USD/CAD, NZD/USD, or EUR/GBP.
Next Business Day — October 23
EUR/USD
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1.1125: €531 million
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1.1150: €556 million
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1.1200: €755 million
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1.1250: €534 million
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1.1255: €741 million
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1.1300: €1.2 billion — largest
Using the current spot rate, 1.1250 is about 10 pips above and 1.1255 about 15 pips above. A combined €1.275 billion is concentrated at these strikes, keeping 1.1250–1.1255 in focus both today and tomorrow.
If the pair rebounds and breaks above this zone, 1.1300, about 60 pips higher, is the next listed level.
To the downside, 1.1200 is about 40 pips below spot. Options remain at 1.1200 tomorrow, so watch the reaction if the pair declines toward that level.
USD/JPY
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156.00: $528 million
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157.00: $1.4 billion — largest
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158.25: $786 million
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158.45: $1.0 billion
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159.00: $893 million
The nearest listed strike is 157.00, about 55 pips below spot. It is also the largest option, making it an important level if the pair falls toward it.
To the upside, 158.25 is about 70 pips above spot and 158.45 about 90 pips above.
Compared with today’s 157.50–157.60 zone, there are fewer options near the current rate tomorrow. Do not assume USD/JPY will remain in the same range after today’s New York cut; reassess the price action.
GBP/USD
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1.3400: £771 million
Current spot is 1.3395.
The 1.3400 strike is just 5 pips above spot, making it an important level tomorrow. Watch the pair’s approach to 1.3400 and whether price action settles around that level.
USD/CHF
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0.8245: $1.4 billion
Current spot is 0.8222.
The 0.8245 strike is about 23 pips above spot. Its size and proximity make it a level to watch if the pair rebounds. Check whether the advance stalls there or breaks above and holds.
USD/CAD
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1.4075: $1.1 billion — largest
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1.4100: $625 million
Current spot is 1.4031.
The 1.4075 strike is about 44 pips above spot, while 1.4100 is about 69 pips above. If the pair rises, watch 1.4075 first, followed by 1.4100.
The fact that the listed strikes are above spot does not, by itself, indicate that the pair will rise.
AUD/USD
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0.7000: A$669 million
Current spot is 0.7013.
The 0.7000 strike is about 13 pips below spot. Options are listed there both today and tomorrow.
If the pair falls below 0.7010–0.7015, the reaction at 0.7000 will be important. Watch whether the pair can hold that level into the next session.
NZD/USD
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0.5740: NZ$819 million
Current spot is 0.5688.
The 0.5740 strike is about 52 pips above spot. Treat it as a level to monitor if the pair rebounds, rather than as a direct influence on price near current levels.
No notable options are listed for EUR/GBP on the next business day.
Overall Picture
Today, USD/JPY’s 157.50–157.60 zone and AUD/USD’s 0.7010–0.7015 zone sit very close to spot, bracketing the current prices.
For EUR/USD, 1.1235 is about 5 pips below spot. Together with the 1.1250–1.1255 zone above, this forms the immediate area to watch.
EUR/USD has a combined €6.1 billion at 1.1300–1.1305, but those strikes are about 60–65 pips above spot. For now, prioritize the reaction at the closer levels.
Tomorrow, GBP/USD 1.3400 is close to spot, while USD/CHF has $1.4 billion at 0.8245. EUR/USD 1.1250–1.1255 and AUD/USD 0.7000 remain relevant levels from today into the next session.
Trading Considerations
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EUR/USD: Watch the reaction at 1.1235. On a rebound, check whether the pair can break above and hold 1.1250–1.1255. If it falls, focus on 1.1220 and then 1.1200.
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USD/JPY: Monitor trading around 157.50–157.60. If the pair breaks below and fails to recover, the next reference zone is 157.35–157.25. If it breaks above and holds, watch 157.75–157.80.
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AUD/USD: Focus on 0.7010–0.7015. If the pair falls, monitor its reaction at 0.7000. If it clearly breaks below that level, respond to the price action rather than assuming it will return to the strike.
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For the next session: Watch GBP/USD’s approach to 1.3400 and USD/CHF’s approach to 0.8245. Do not choose a trading direction based solely on option size; assess how price behaves after reaching each level.
