Friday is the quadruple witching option expiration for Q1. That means there will be additional volume, but the volatility associated with the expiration has already occurred. Very few investors hold their options until the last day unless they expect them to expire worthless. Anyone attempting to salvage any premium will close earlier in the week or better yet at the end of the prior week. The volatility on Friday is normally at the open when the funds and market makers try to manipulate the open on the S&P to capture the opening print for settlement of the options. After the open, expiration Friday is normally flat to choppy. This is not a day to be establishing new positions.
Boeing failed to tank the Dow with only a $3.84 decline which equates to roughly 25 Dow points.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW DIRECTIONAL CALL PLAYS
No New Bullish Plays
NEW DIRECTIONAL PUT PLAYS
No New Bearish Plays