Monthly OpEx
November 2024 Update
Previous OpEx:
2nd last OpEx of the year coming up, lets review how SPX has fared during the day:
Bearish lean overall for the day, however, straddles not performing well at all.
Overnight drift consistently lower since 2022, odd when compared to overall overnight bias for markets to drift higher.
RTH pattern continues to be muted vol without any large wins on the straddles throughout the last 8 years.
Short puts post London close after 2022 almost no large drops outside few months in early 2024. That’s generally in line with Fridays where markets drift sideways into the weekend (accompanied by VX selling off.)
Last hour saw some downside pre 2022, almost no winners on straddles since…
Unlike month end, last 10 mins not very exciting. Puts hold up, historically, but 2023 onwards we seem to just be pinning flat into close.
Have a good day!