Summary
Options data from the Depository Trust & Clearing Corporation (DTCC) indicate several large currency option expiries due on Wednesday, July 22. The expiries are concentrated in a handful of major pairs, with detailed notional amounts and strikes reported by the DTCC. The dataset covers euro, dollar, Australian dollar, New Zealand dollar, pound sterling, Brazilian real and Canadian dollar pairs; it also highlights pairs with no large expiries on that date.
Detailed expiries
- EUR/USD - €2.85 billion expiring at the 1.1400 strike level; €844.7 million at 1.1500; €534.4 million at 1.1770.
- USD/JPY - $1.58 billion expiring at 163.00; $1.43 billion at 157.50; $952.6 million at 162.50.
- AUD/USD - AUD 1.19 billion expiring at 0.6900; AUD 1.12 billion at 0.6325; AUD 900 million at 0.6150.
- GBP/USD - £300 million expiring at 1.2925.
- USD/BRL - $434.9 million at 5.1000; $425 million at 5.0700; $348.5 million at 5.0745.
- NZD/USD - NZD 818.9 million expiring at 0.5475; NZD 600 million at 0.5275; NZD 380 million at 0.5840.
- USD/CAD - $637.1 million expiring at 1.4075; $310 million at 1.6000.
Pairs with no large expiries reported for Wednesday
- USD/CNY
- USD/KRW
- EUR/GBP
- USD/MXN
Context and notes on the data
The figures above are the notional amounts and strike levels reported by the DTCC for expiries on Wednesday, July 22. The dataset lists precise amounts in the currencies indicated (euros, U.S. dollars, Australian dollars, New Zealand dollars, British pounds and Brazilian reais) and identifies several large single-strike expiries across key pairs. The DTCC source is the sole basis for the quantities presented here.
Key points
- Several major currency pairs have multibillion-dollar option expiries on Wednesday, with notable concentrations in EUR/USD, USD/JPY and AUD/USD.
- The DTCC report provides exact strike levels and notional amounts for each listed expiry, enabling market participants to see where large option positions are scheduled to lapse.
- Sectors directly tied to currency markets such as foreign exchange trading desks, institutional option dealers and corporate treasuries that hedge currency exposure are the most immediately referenced by the data provided.
Risks and uncertainties
- The report is limited to DTCC-reported expiries for Wednesday, July 22; it does not provide information beyond those entries or positions held outside the DTCC dataset.
- The data lists notional amounts and strikes but does not detail counterparty positions, option types (puts versus calls) beyond the strike information, or how market participants may adjust positions in response to these expiries.
- The absence of large expiries for USD/CNY, USD/KRW, EUR/GBP and USD/MXN on that date is a feature of the DTCC report and does not imply the absence of smaller expiries or other market activity in those pairs.
Bottom line
DTCC records show sizeable, concentrated option expiries across several major currency pairs on Wednesday, July 22. The listing provides exact strike levels and notional amounts for each reported expiry and enumerates pairs that lack large expiries on that date. Market participants relying on this information should note the dataset's scope is limited to DTCC-reported expiries.