Does anyone follow options expiry? Have any ideas on it?
I've seen some rather aggressive moves in stocks in the lead up to expiry and the last few months have been similar in FX.
First instance was the push in GBP/USD to 2.065? and by the next expiry a month later it was being squeezed as close to 2.00 as possible. Now, the same thing seems to be happening in the EUR/USD (had it not been for the northern rock situ, the GBP would again be up near the 2.05 level as it topped at 2.03.
Following the expiry today, I think we'll see a correction in the EUR/USD.
I've seen some rather aggressive moves in stocks in the lead up to expiry and the last few months have been similar in FX.
First instance was the push in GBP/USD to 2.065? and by the next expiry a month later it was being squeezed as close to 2.00 as possible. Now, the same thing seems to be happening in the EUR/USD (had it not been for the northern rock situ, the GBP would again be up near the 2.05 level as it topped at 2.03.
Following the expiry today, I think we'll see a correction in the EUR/USD.
