📊 August 21, 2025 — FX Option Positioning (by Pair)

📊 August 21, 2025 — FX Option Positioning (by Pair)

🇪🇺 EUR/USD (EUR Notional)

• 1.1470: €1.4B

• 1.1550: €953M

• 1.1600: €1.6B

• 1.1670: €1.2B

• 1.1700: €2.6B

• 1.1750: €2.8B

• 1.1800: €3.8B ✅ Largest

• 1.1830: €1.9B

📌 Overwhelming concentration at 1.1800 (€3.8B).
Strong magnet zone between 1.1700–1.1750 (over €2B each), forming a heavy topside cluster.

🇺🇸 USD/JPY (USD Notional)

• 145.95: $890M

• 146.80: $1.7B ✅ Largest

• 148.50: $823M

• 149.00: $1.2B

📌 146.80 ($1.7B) = gravity point.
→ Expect consolidation near 147.00, with 149.00 as upside target if broken.

🇬🇧 GBP/USD (GBP Notional)

• 1.3650: £884M

📌 Standalone strike at 1.3650, likely to act as a magnet into NY cut.

🇦🇺 AUD/USD (AUD Notional)

• 0.6500: A$641M

• 0.6600: A$1.4B ✅

📌 Strong magnet at 0.6600, pulling spot toward the top of the recent range.

🇨🇦 USD/CAD (USD Notional)

• 1.3770: $630M

• 1.3820: $799M

📌 Strikes clustered around 1.3800 zone, reinforcing convergence risk near mid-1.38s.

🇳🇿 NZD/USD (NZD Notional)

• 0.5980: NZ$660M ✅

📌 Single thick strike at 0.5980, acting as a downside floor magnet.

🇪🇺🇬🇧 EUR/GBP (EUR Notional)

• 0.8600: €1.4B ✅

📌 Major concentration at 0.8600, forming a strong gravitational pivot.

📊 Strategy Takeaways (Option Floor Perspective)

👉 Key Focus Today:

• EUR/USD 1.1800 (€3.8B) = largest strike cluster.

• USD/JPY 146.80 ($1.7B) = dominant magnet near 147.00.

These two levels are the most important gravitational zones into the NY cut.

⚖️ 15-min Power Balance

EUR = GBP = USD > CHF > CAD > NZD > AUD > JPY