Large vanilla option contracts are rolling off later today

Yes folks, further to Ryan's post (written as I've been writing mine), and believe in their impact or not, we can't ignore their presence

EURUSD 1.0550 (EUR 1.5bln) 1.0600 (1.6bln) 1.0650 (702m) 1.0700 (1.5bln)

Given the demand previously into 1.0600 ( not just today) I'm guessing that level needed to be defended and with more rolling off at 1.0550 along with a barrier it's highly likely that bias is for bids too

Remember these are vanilla options which means that they are still in play until 15.00 GMT even if breached whereas the barrier options are finite and if breached are no longer in play

There are also $1.36bln of USDJPY contracts rolling off at 122.00 and $1.7bln at 123.00 today so keep an eye on gravitational pull should we be close nearer the time

There is no finite way in which to trade this info but if you see a move against the grain it's likely to be expiry related if the prevailing price is within reasonable range

For more on trading the expiries here's the piece I wrote a while ago but still relevant ahead of some updated material coming to you soon in video form.