Re Options Expiration: Posting this again because I think it is relevant.
"There is another headwind for the S&P 500 this week that he and others are watching — May options expiries, with those for the VIX VIX set for Wednesday and S&P 500 options for Friday. In each of the last six years, and 11 of the last 14, Krinsky noted that the S&P has been negative during this week, with an average loss of 1.3%. Michael Kramer, founder of Mott Capital Management, also weighs in here, blaming some of the market churn on the run-up to those expirations. “Generally, these option expirations have kept the market rangebound; currently, support for the S&P 500 is at 4,100 and resistance around the 4,150 level. This week’s focus will be on the bulls’ attempt to surpass the 4,150 mark for the S&P 500, while the bears are eager to bring it below 4,100,” he said."