October options expiration has a history of volatility By: Almanac Trader | October 13, 2017
Since 1994, the Monday of options expiration week has a bullish bias for DJIA, S&P 500, NASDAQ and Russell 2000. Expiration day however, tends to be mixed with average losses across the board even though S&P 500 and NASDAQ have advanced more often than not. Entire expiration week and the week after also lean bullish. Of note is the small-cap index streak of 13 straight advances from 1994 through 2006 (not shown, the streak is actually 17 years starting in 1990) and it has been down in seven of the last ten years. October’s reputation for volatility can be seen with wild daily and weekly swings in the tables below. Weekly moves in excess of 5% occurred in 1998, 2002, 2008 and 2011.
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