This Friday’s options expiry is massive, with $7.1 trillion on the line. I’m focused on the S&P 500
$S&P 500(.SPX)$ , where $5 trillion is tied, and 0DTE options make up over 60% of activity. Whether SPX holds 6,800 will likely set the tone for year-end, as both bulls and bears see this as a key level. Every tick could trigger rapid reactions, making the session highly sensitive.
I expect the “pinning effect” to push prices toward key strikes, but with such huge expiries, volatility is almost certain. Sudden swings are likely as traders adjust positions, though some stabilization around 6,800 is possible as market makers manage risk.
Although the market has rebounded, I remain cautious about a Santa rally. Even if SPX stays above 6,800, the sheer size of expiries could create choppy conditions. It’s a day to watch levels closely, stay disciplined, and be ready for both swings and pinning.
@Tiger_comments @TigerStars
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