There's some good size option contracts rolling off today 2 August 2016
No, it's not EURUSD, GBPUSD or USDJPY but our thin-liquidity friends AUDUSD and USDCAD
AUD 1.1bln at 0.7520 and USD 1.3bln at 1.3000 are in range with the latter potentially proving a bit of an additional magnet as the pair slides to 1.3048 from 1.3130 on a heady mix of firmer oil and softer USD generally.
As for AUDUSD I highlighted the potential support in my original post :
" Judging by price action post-RBA the 0.7520 expiries could well help support the pair"
Well, support it most certainly has provided with a steady climb to 0.7582 shrugging off the earlier AUDJPY selling.
Decent offers into 0.7600 should provide a cap for the moment but at 0.7580 still we can't rule out a further advance. Either way it looks like the 0.7520 certainly provides a base.
Keep an eye on the clock if you're trading these pairs.
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.
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