April option expiration is generally bullish across the board with solid gains on the last day of the week, the entire week and the week after. Since 1982, DJIA and S&P 500 have both advanced 23 times in 37 years on expiration day with an average gain right around 0.15%. Expiration day used to be stronger, but four or five straight years of declines has taken on a toll on the longer-term record. Nonetheless, expiration week has a bullish track record over the past 37 years even factoring in recent weakness on the last day. Average weekly gains are 1% or better for S&P 500, DJIA and NASDAQ. The bullish bias of April expiration also persists during the week after. DJIA has posted a full-week gain in 15 of the last 20 weeks following expiration.
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