Large option expiries are on the agenda again today 5 May

Stop me if you've heard this one before but today sees more option contracts of note rolling off at 14.00 GMT

1.0900 (2.54bln) 1.0930 (538m) 1.0950 (1.9bln) 1.0970 (652m) 1.0980 (716m) 1.1000 (2.7bln)

Yesterday's large expiries at 1.0950 certainly delayed the advance of a rampaging euro ( see chart below ) but today's expiries at 1.1000 have provided further sell interest since then.

1.0950 contracts look likely to hold this session's decline from 1.0985 but don't rule out a break for the line if we're still close approaching expiry, NFP fallout notwithstanding.

Currently 1.0963 remember that these are "vanilla" options so still in play right up to expiry at 14.00 GMT on the day even if breached in the meantime, unlike barrier options which cease to be once hit.

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