Today’s Option Overview — 27 August 2026
Spot Prices
EUR/USD: 1.1653
USD/JPY: 159.35
GBP/USD: 1.3586
USD/CHF: 0.8056
USD/CAD: 1.3883
AUD/USD: 0.7181
NZD/USD: 0.5947
EUR/GBP: 0.8575
Today, 27 August
EUR/USD
1.1530 (€1.9 billion)
1.1535 (€552 million)
1.1550 (€1.4 billion)
1.1600 (€2.3 billion) — Largest
1.1630 (€527 million)
1.1645 (€1.1 billion)
1.1650 (€764 million)
1.1695 (€1.4 billion)
1.1700 (€1.0 billion)
The current price is 1.1653.
Today’s largest option is at 1.1600 (€2.3 billion), approximately 53 pips below the current price.
The short-term focal point is 1.1650, only around 3 pips below spot. With €764 million in options at this level, price consolidation or a move back toward 1.1650 may be seen into the New York cut.
On the upside, €1.4 billion at 1.1695 and €1.0 billion at 1.1700 create an important resistance zone. If EUR/USD holds above 1.1650 and rises, the 1.1695–1.1700 area becomes the key upside target.
Conversely, a clear break below 1.1645 could shift attention to 1.1630 and then toward the largest strike at 1.1600.
USD/JPY
158.00 ($730 million)
158.18 ($799 million)
158.90 ($619 million)
160.00 ($524 million) — Largest
The current price is 159.35.
There are no major option strikes very close to the current level. The 158.90 strike is around 45 pips below spot, while 160.00 is around 65 pips above.
Therefore, today’s price action is likely to be driven more by U.S. yields and the broader dollar direction than by option-related pinning.
If USD/JPY holds in the 159 range and continues higher, 160.00 will be the key upside target and psychological threshold.
If the pair breaks clearly below 159.00, attention shifts first to 158.90, followed by the 158.18–158.00 support zone.
GBP/USD
1.3550 (£841 million) — Largest
The current price is 1.3586.
The 1.3550 strike is around 36 pips below spot. While not immediately close, it may attract price action if GBP/USD remains soft.
AUD/USD
0.7100 (A$1.3 billion) — Largest
The current price is 0.7181.
This strike is around 81 pips below spot, so its direct influence into today’s New York cut is limited. However, if AUD/USD undergoes a larger correction, 0.7100 may become an important downside target.
USD/CHF, USD/CAD, NZD/USD, and EUR/GBP
No notable large option expiries are reported.
Next Business Day, 28 August
EUR/USD
1.1575 (€528 million)
1.1600 (€812 million)
1.1625 (€765 million)
1.1650 (€767 million)
1.1680 (€759 million)
1.1725 (€840 million) — Largest
The current price is 1.1653.
Options are relatively evenly distributed between 1.1600 and 1.1725. The 1.1650 strike, closest to spot, is likely to remain an important short-term reference point.
A clear break above 1.1680 would place 1.1725 in focus. On the downside, a break below 1.1625 could open the way toward 1.1600.
USD/JPY
158.20 ($1.1 billion) — Largest
161.00 ($665 million)
The current price is 159.35.
Both strikes are some distance from spot: 158.20 is around 115 pips lower and 161.00 around 165 pips higher. Their short-term pinning effect is therefore limited.
In a decline, 158.20 becomes a key downside reference. If yen weakness accelerates, 161.00 may emerge as a medium-term upside target.
GBP/USD
1.3700 (£832 million) — Largest
The current price is 1.3586.
The strike is around 114 pips above spot, so short-term influence is limited. However, it becomes a relevant upside target if sterling strengthens sharply.
USD/CHF
0.8000 ($1.5 billion) — Largest
The current price is 0.8056.
This strike is around 56 pips below spot. If USD/CHF weakens into tomorrow, downside pressure toward 0.8000 may increase.
Overall Structure
EUR/USD is likely to center on 1.1650 into today’s New York cut.
The key EUR/USD upside zone is 1.1695–1.1700, while 1.1600 holds today’s largest expiry at €2.3 billion.
USD/JPY lacks a major nearby option strike. The key question is whether it moves toward 160.00 or declines toward the 158.90–158.00 zone.
For tomorrow, watch EUR/USD 1.1650, USD/CHF 0.8000, and USD/JPY 158.20.
Trading Strategy
EUR/USD
Expect price action to remain centered around 1.1650 into the New York cut.
A break below 1.1645 warrants caution for a move toward 1.1600.
If the pair breaks above and holds above 1.1695–1.1700, 1.1725 becomes the next upside target.
USD/JPY
As long as USD/JPY holds in the 159 range, upside potential toward 160.00 remains.
A break below 159.00 brings 158.90 and then 158.18–158.00 into focus.
Today, prioritize U.S. yields, equities, and broad dollar direction over option-related flows.
