17 May 2010

SP Futures Have an Inauspicious Open for Options Expiration Week

The SP 500 Futures dropped to 1120 off the open this evening on weakness in Asia, and continued concerns about sovereign debt in the Eurozone. There is still plenty of overnight, thin volume trade to permit a bounce.

This is an option expiration week, so shenanigans will be in vogue as the banks trading desks take out the wash, and rinse.