📊 FX Option Expiries — April 1, 2026 (NY Cut)
■ Spot| Pair | Spot |
|---|---|
| EUR/USD | 1.1574 |
| USD/JPY | 158.71 |
| GBP/USD | 1.3257 |
| USD/CHF | 0.7965 |
| USD/CAD | 1.3900 |
| AUD/USD | 0.6912 |
| NZD/USD | 0.5744 |
| EUR/GBP | 0.8728 |
■ Wednesday (April 1)
EUR/USD
- 1.1450 (3.6B)
- 1.1500 (6.3B)
- 1.1505 (1.5B)
- 1.1525 (1.1B)
- 1.1600 (1.1B)
- 1.1625 (2.6B)
- 1.1650 (3.2B)
- 1.1700 (3.6B) ★ Massive
👉 Spot: 1.1574
✔ Downside: 1.1450–1.1500 (heavy zone)
✔ Upside: 1.1625–1.1700 (massive zone)
👉 Clearly a “sandwiched range market” (range-locked)
USD/JPY
- 156.50 (2.2B) ★ Largest
- 158.00 (530M)
- 159.10 (760M)
👉 Spot: 158.71
✔ Downside: 156.50 dominates
✔ Upside: lighter resistance near 159
👉 Sell-on-rally structure
GBP/USD
- 1.3000 (550M)
- 1.3320 (650M)
- 1.3475 (820M)
👉 Mid-range (~1.325)
→ No clear direction
USD/CHF
- 0.7885 (650M)
👉 Downward magnetic pull
USD/CAD
- 1.3900 (630M)
👉 Spot exactly at strike
→ Fully pinned level
AUD/USD
- 0.6800 (1.7B) ★ Largest
- 0.6900 (530M)
- 0.7035 (870M)
- 0.7050 (500M)
👉 Spot: 0.6912
✔ Downside: 0.6800
✔ Upside: 0.7035
👉 Range-bound structure
■ Thursday (April 2)
EUR/USD
- 1.1400 (930M)
- 1.1450 (550M)
- 1.1500 (1.3B)
- 1.1540 (780M)
- 1.1590 (620M)
- 1.1650 (1.3B)
👉 More distributed than prior day
→ Range continues, but with slightly more flexibility
USD/JPY
- 157.00 (1.5B) ★ Strong
- 159.00 (920M)
- 160.00 (1.0B)
- 160.50 (580M)
👉 Range confirmed: 157–160
USD/CAD
- 1.3705 (730M)
- 1.3825 (560M)
AUD/USD
- 0.6800 (890M)
- 0.6900 (660M)
- 0.7025 (740M)
👉 Range maintained: 0.68–0.70
■ Overall Structure (Key)
EUR/USD
👉 Large option clusters both above and below
=
👉 No trend zone (range-dominant environment)
USD/JPY
👉 Downside (156–157) is extremely strong
=
👉 Upside limited → sell-on-rally bias
AUD/USD
👉 Anchored at 0.6800
=
👉 Range trading is optimal
🎯 Trading Conclusion
✔ Trend trading → ❌ Ineffective
✔ Breakout trading → ❌ High probability of false moves
👉 Optimal strategy:
“Trade rotations within option-defined ranges”
📌 One-Line Summary
👉 “Heavy option clusters on both sides — fully range-controlled market.”
