Notable FX Option Expiries for todays NY cut: 3rd November 2026

• EUR/USD: 1.1150 (EUR 3.2bln), 1.1175 (EUR 978mln), 1.1200 (EUR 901mln), 1.1250 (EUR 654mln)
• USD/JPY: 157.00 (USD 1.5bln), 158.00 (USD 1.2bln)
• USD/CHF: 0.8300 (USD 952mln)
• USD/CAD: 1.3975 (USD 550mln)

Large vanilla expiries rolling off at the New York cut are a routine feature of the FX calendar, and their effect is well understood: sizeable strikes near spot tend to exert a gravitational pull into the cut as hedging flows from option sellers cluster around the level, then release once the expiry passes. The distinction that matters is proximity: strikes trading within a normal day's range of spot, here the larger EUR/USD and USD/JPY clips relative to the adjacent smaller ones, are the ones that condition price action, while out-of-range levels are typically informational only, marking where positioning sits rather than where spot will trade. The listed USD/JPY strikes are the sort that draw attention when they sit just above spot, since round-number expiries in that pair have historically interacted with official discomfort around yen weakness, making the level doubly watched. The usual sequence is two-way, mean-reverting trade into the cut followed by a directional resolution afterward, with the post-cut move often the cleaner signal of underlying flow. Worth noting is what the board reveals about the options market's map: concentrated open interest at round strikes defines near-term support and resistance independent of fundamentals. As a flow item rather than news, this shapes intraday behaviour, not trend.