U.S. Super Stock Options Expiry May Bring Short Market Respite

Reuters2022-06-17

An unusually large quarterly expiration of U.S. stock futures and options on Friday is likely to boost trading volumes and add to volatility, market strategists said, with some even expecting it to ...

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2022-06-18
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Buying a call option is a bet the underlying asset will rise in price, while the opposite holds for a put option.Analytic services SpotGamma said there are a significant number of deep \"in-the-money\" puts expiring, similar in size to when markets crashed in March 2020, referring to protective options that have risen in value due to the market's fall.\"These positions are likely adding to the overall market volatility,\" said SpotGamma founder Brent Kochuba.Goldman Sachs estimated this week that about $3.4 trillion of U.S. stock options were set to expire on Friday, a much larger than usual quarterly figure.U.S. markets will be shut on Monday for the Juneteenth holiday.Some market participants expect more demand for hedging of portfolios as investors face a possible recession. A large number of bearish positions expiring could also provide some relief in the near term, they said.The Federal Reserve's 75 basis point interest rate hike on Wednesday and the possibility of more hikes to tame decades-high inflation has put the S&P 500 on course for its worst weekly performance since the pandemic-led crash in 2020.The U.S. benchmark index is already in a bear market, after falling more than 20% from its all-time high.\"Now that the big Fed shoe has dropped, in the absence of other news, markets may take a breather...but a sustained recovery may remain elusive for now,\" Oyster said.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":689685777,"gmtCreate":1655545316503,"gmtModify":1704862662726,"author":{"id":"3567410774681125","authorId":"3567410774681125","name":"巧蓁","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3567410774681125","authorIdStr":"3567410774681125"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/689685777","repostId":1164445096,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":5,"commentSize":1,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1164445096"}