Nov 18 (Reuters) - With little significant data before Friday's Eurozone PMIs, huge FX option strike expiries and their related FX hedging flows may dominate EUR/USD trading this week.

Those trading FX volatility via FX options will typically neutralise any exposure to the currency pair with an opposing cash position and these flows can increase and potentially draw/contain FX spot to the strike price before the 10-am New York cut expiry.

Most of this week's strike expiries are also within a 1.0500-1.0650 spot range - already defined by existing FX positions.

Standout EUR/USD strikes expiring on Monday are 1.0500-20 in 2.2 billion euros and 1.0600-25 in 3.3 billion euros. Tuesday has 1 billion euros between 1.0540-50 and 1.8 billion euros between 1.0590-1.0600 and 2.4 billion euros at 1.0650. Wednesday has 1 billion euros at 1.0500-10, 1.3 billion euros at 1.0540, 734 million euros at 1.0585 and 1.2 billion euros at 1.0620.

Thursday's largest EUR/USD strike expiries are between 1.0540-50 on 1.5 billion euros, 1.0600-10 on 2.5 billion euros, 1.0650-60 on 2.3 billion euros and between 1.0690-1.700 on a massive 6 billion euros. Friday's largest strike expiries are at 1.0500 on 1.3 billion euros and 1.0600 on 1.6 billion euros.

FX options continue to hedge EUR/USD downside threat

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(Richard Pace is a Reuters market analyst. The views expressed are his own, editing by Ed Osmond)

((Richard.Pace@thomsonreuters.com))