Options Expiration Friday
I checked out the chart from October's OpEx Friday (10/16/09), and see a lot of similarities between 10/16 and 11/20. I wasn't concerned with the absolute values/prices on each day; just the directional swings. Lets do a little compare & contrast between 10/16 and 11/20 and look at the similarities:
- Price sold off in the overnight session on Both days.
- Price retraced back up into the cash Open
- Price stalled and reversed within the first 30 minutes of the open. Price began reversing down at 8:45 am on 11/20, and at 8:55 am on 10/16. The exact times aren't really important, but it's an interesting coincidence.
- Price retraced back down on both days. Price broke below the Globex Low on 10/16, but wasn't able to get to the Globex Low on 11/20.
- Price then chopped around, and moved higher into the previous day's POC on 10/16 and 11/20.
- Price moved back down into the close, and the down swing began at almost the same times on both days.
ES - 5-Min Chart (November 20, 2009)
ES - 5-Min Chart (October 16, 2009)