Posted: 12 Nov 2020 02:33 PM PST
DJIA has been up 11 of the last 16 years on Monday of expiration week and Friday is up 14 of the last 18 years with an average gain of 0.56%. By the way, it is not a mistake that November Op-Ex day has the same point change and percent change in 2014 and 2015. It was triple checked and its correct. If you go out 2 more decimal places in the percentage calculation, it’s different.
S&P 500, NASDAQ and Russell 2000 have not been as bullish as DJIA around or on November option expiration. S&P 500 has advanced only 17 times during options expiration week while NASDAQ and Russell 2000 have climbed only 16 and 14 times respectively over the past 26 years. All four indices have posted average losses on Monday and aside from DJIA and S&P 500 have been essentially mixed on options expiration day. Friday’s solid average gains across the board are largely due to a sizable gain in 2008. Any weakness next week could be a good entry point for new longs ahead of the historically bullish Thanksgiving holiday.