In addition to this week being options expiration week, this week is also the week before Thanksgiving week. This overlap occurs in most years, but not all. November 2013 would be the most recent example when they did not overlap. Nonetheless, the overall bullish bias that options expiration week exhibits also exists during the week before Thanksgiving week. Over the last 21 years, DJIA and S&P 500 have both advanced more than 70% of the time during the this week. DJIA has gained an average of 0.65% and S&P 500 0.32%. NASDAQ and Russell 2000 are slightly weaker, up just 61.9% of the time with average gains of 0.56% and 0.15% respectively. Steep losses occurred in 2008 during financial crisis and 2011 also hosted sizable losses.
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