Today’s Option Market Overview 12 August 2026
Spot Prices
EUR/USD: 1.1534
USD/JPY: 159.35
GBP/USD: 1.3504
USD/CHF: 0.8119
USD/CAD: 1.3929
AUD/USD: 0.7058
NZD/USD: 0.5866
EUR/GBP: 0.8540
Today, 12 August
EUR/USD
・1.1400 (€1.1 billion)
・1.1445 (€740 million)
・1.1500 (€1.1 billion)
・1.1550 (€1.1 billion)
● 1.1600 (€1.3 billion) Largest
The current price is 1.1534.
Today’s largest option is at 1.1600, with a notional amount of €1.3 billion. However, the nearest major level to the current price is 1.1550, only around 16 pips away.
In the short term, a move back toward 1.1550 is likely to attract the most attention. If this level is broken to the upside, 1.1600 becomes the next target.
On the downside, there is also €1.1 billion at 1.1500, creating a clearly defined 1.1500–1.1600 range structure.
USD/JPY
・157.00 ($810 million)
● 159.00 ($1.2 billion) Largest
・159.50 ($800 million)
・161.00 ($540 million)
The current price is 159.35.
The key level today is 159.00, where the largest $1.2 billion option is located. There is also an $800 million option at 159.50, with the current price positioned between the two levels.
Accordingly, the 159.00–159.50 zone is the area most likely to keep prices contained heading into the New York cut.
USD/CAD
● 1.3930 ($560 million) Largest
The current price is 1.3929.
The option strike is almost exactly aligned with the current price. This is one of today’s clearest option setups, and price action may remain contained around 1.3930 heading into the New York cut.
AUD/USD
● 0.7050 (A$840 million) Largest
The current price is 0.7058.
With the strike only around 8 pips below the current price, a move back toward 0.7050 is likely to be watched closely.
GBP/USD
There are no notably large options today.
USD/CHF
There are no notably large options today.
NZD/USD
There are no notably large options today.
EUR/GBP
There are no notably large options today.
Next Business Day, 13 August
EUR/USD
・1.1400 (€820 million)
・1.1405 (€550 million)
・1.1415 (€1.6 billion)
・1.1450 (€510 million)
・1.1465 (€520 million)
・1.1500 (€1.8 billion)
・1.1515 (€1.1 billion)
・1.1520 (€830 million)
・1.1525 (€530 million)
・1.1540 (€950 million)
・1.1545 (€690 million)
・1.1550 (€1.6 billion)
・1.1560 (€960 million)
・1.1575 (€990 million)
● 1.1600 (€2.5 billion) Largest
・1.1605 (€600 million)
・1.1620 (€940 million)
Options are very densely concentrated for the following day.
The most notable levels are 1.1600 (€2.5 billion), 1.1500 (€1.8 billion), and 1.1550 and 1.1415 (€1.6 billion each).
Numerous option expiries are clustered between 1.1540 and 1.1600, making EUR/USD particularly likely to be influenced by option-related flows tomorrow.
USD/JPY
・158.00 ($740 million)
・158.25 ($740 million)
・158.50 ($620 million)
● 159.00 ($1.6 billion) Largest
・160.00 ($980 million)
The current price is 159.35.
The 159.00 option, worth $1.6 billion, remains the key level tomorrow. Options are positioned in the 158 range below and at 160.00 above, making the 158.50–160.00 range important.
GBP/USD
● 1.3380 (£1.0 billion) Largest
・1.3515 (£560 million)
The current price is 1.3504.
The closer level is 1.3515, making it more relevant in the short term than the larger 1.3380 option.
USD/CHF
● 0.8100 ($1.3 billion) Largest
The current price is 0.8119.
At only around 19 pips from the current price, a move back toward 0.8100 may be encouraged.
AUD/USD
● 0.7000 (A$870 million) Largest
The current price is 0.7058.
For tomorrow, 0.7000 will be an important downside level.
■ Overall Picture
● EUR/USD: 1.1550 is important today, while 1.1600 is the key level tomorrow.
● USD/JPY: 159.00 is the central price level both today and tomorrow.
● USD/CAD: 1.3930 is almost exactly aligned with the current price.
● AUD/USD: Today’s 0.7050 option is very close to the current price.
● EUR/USD has a heavy concentration of large options tomorrow, increasing the likelihood of option-driven trading.
■ Trading Strategy
EUR/USD
● Focus on a potential move back toward 1.1550 today.
● A break above 1.1550 could open the way toward 1.1600.
● 1.1500 is an important potential support level.
● Tomorrow, focus on the battle between 1.1550 and 1.1600.
USD/JPY
● Focus on the 159.00–159.50 range.
● A clear break below 159.00 would raise the risk of a move into the 158 range.
● 160.00 is the next important level on the upside.
USD/CAD
● Watch for price to remain anchored around 1.3930.
● This is one of the currency pairs where the current price and option strike are most closely aligned.
AUD/USD
● Focus on a possible move back toward 0.7050.
● If 0.7050 breaks, tomorrow’s 0.7000 option could emerge as the next target.
■ Summary
Today’s key option levels are:
● EUR/USD: 1.1600 (€1.3 billion)
● USD/JPY: 159.00 ($1.2 billion)
● AUD/USD: 0.7050 (A$840 million)
● USD/CAD: 1.3930 ($560 million)
However, considering their proximity to current spot prices, the levels most likely to influence the New York cut are USD/JPY at 159.00–159.50, USD/CAD at 1.3930, and AUD/USD at 0.7050.
USD/CAD is particularly notable, as the current price of 1.3929 is almost identical to the 1.3930 option strike.
For EUR/USD, 1.1550 is the nearest central level today. With a very large €2.5 billion option at 1.1600 tomorrow, the 1.1550–1.1600 range will remain an important option zone.
