Core Insights - A significant number of foreign exchange options are set to expire on June 30 at 22:00 Beijing time, including large orders for the euro, yen, pound, Swiss franc, and Canadian dollar [1]. Group 1: Euro Options - There are multiple large euro options expiring, with notable amounts including €3.2 billion at 1.1650, €2.4 billion at 1.1700, and €1.7 billion at 1.1750 [3]. - Additional euro options include €6.53 million at 1.1675, €6.63 million at 1.1720, and €9.56 million at 1.1775 [3]. Group 2: Yen Options - For the USD/JPY pair, significant amounts include $720 million at 145.00, $521 million at 145.35, and $1.6 billion at 145.50 [4]. - Other notable yen options are $695 million at 146.00 and $722 million at 147.00 [4]. Group 3: Pound Options - The GBP/USD pair has large options with £1 billion at 1.3600 and £921 million at 1.3733 [4]. - Additional amounts include £578 million at 1.3500 and £1.4 billion at 1.4000 [4]. Group 4: Swiss Franc and Canadian Dollar Options - For the USD/CHF pair, there are $2 billion at 0.8000 and $801 million at 1.3600 [4]. - The USD/CAD pair has $446 million at 1.3700 and $653 million at 1.3705 [4]. Group 5: Australian Dollar Options - The AUD/USD pair has a notable option of A$1.1 billion at 0.6425 [4].

Core Viewpoint - A significant number of foreign exchange options with strike prices exceeding 1 billion are set to expire on June 27, 2023, at 22:00 Beijing time, which may impact market volatility and trading strategies [1]. Group 1: Currency Pairs and Values - The following currency pairs have notable option values and strike prices: - Euro to USD: 18 billion euros at 1.1600, 5.7 billion euros at 1.1625, 15 billion euros at 1.1650, 8.88 billion euros at 1.1700, 3.46 billion euros at 1.1725, and 3 billion euros at 1.1750 [3]. - Euro to CHF: 3.9 billion euros at 0.9360 [4]. - GBP to USD: 10 billion GBP at 1.3600 [4]. - AUD to USD: 4.91 billion AUD at 0.6500 and 3.5 billion AUD at 0.6570 [4]. - USD to CAD: 11 billion USD at 1.3645-1.3650 [4]. - USD to JPY: 3.55 billion USD at 144.00 and 7.75 billion USD at 145.00 [5]. Group 2: Expiration Impact - The expiration of these large options may lead to increased volatility in the respective currency pairs, particularly for those with significant values at critical strike prices [1][4].

Core Viewpoint - A significant number of foreign exchange options with large notional values are set to expire on June 25, 2023, which may impact market dynamics and require risk management considerations [1]. Group 1: Expiration Details - A total of 14 foreign exchange options with notional values exceeding 1 billion are set to expire [1]. - The expiration includes various currency pairs such as Euro, Yen, Swiss Franc, Pound, Australian Dollar, New Zealand Dollar, and Canadian Dollar [1]. Group 2: Notional Values and Strike Prices - Notional values for various currency pairs include: - $824 million for strike prices between 143.45-143.50 [4] - $1.5 billion for strike prices between 143.90-144.00 [4] - $2.21 billion for strike prices at 144.50 [4] - $5.51 million for strike prices between 145.40-145.45 [5] - $20 billion for strike prices at 148.00 [5] - Additional notional values include: - €2.11 million for Euro/Yen at 167.00 [5] - £11 billion for Euro/Pound at 1.3400 [6] - $3.44 billion for Dollar/Canadian Dollar at 1.3700 [7] Group 3: Currency Pair Highlights - Key currency pairs involved in the expirations include: - Euro/Yen, Euro/Pound, Euro/Swiss Franc, and Dollar/Yen [9]. - The expirations may lead to increased volatility in these currency pairs as large positions are settled [1].

Core Insights - A significant number of foreign exchange options are set to expire on June 24, with notable large orders exceeding 1 billion in various currency pairs [1] Group 1: Currency Pairs and Values - The Euro to US Dollar has a total value of 1.5 billion euros at strike prices ranging from 1.1545 to 1.1680 [3] - The Euro to Swiss Franc has a value of 2.5 billion euros at a strike price of 0.9505 [4] - The British Pound to US Dollar has a total value of 8.5 billion pounds at strike prices between 1.3465 and 1.3475 [4] Group 2: Additional Currency Options - The Australian Dollar to US Dollar has a total value of 3.21 billion Australian dollars at a strike price of 0.6450 [5] - The US Dollar to Canadian Dollar has a value of 7.24 billion dollars at a strike price of 1.3775 [5] - The Euro to British Pound has a value of 2.91 billion euros at a strike price of 0.8500 [4]