{"id":95072,"date":"2021-07-15T11:53:23","date_gmt":"2021-07-15T15:53:23","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=95072"},"modified":"2023-02-10T13:32:49","modified_gmt":"2023-02-10T18:32:49","slug":"some-things-to-watch-ahead-of-monthly-expiration","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/options\/some-things-to-watch-ahead-of-monthly-expiration\/","title":{"rendered":"Some Things to Watch Ahead of Monthly Expiration"},"content":{"rendered":"\n<p>Last month\u2019s expiration was a wild one.&nbsp; Markets had been taking most expirations in stride, but last month\u2019s was a so-called \u201ctriple-witch\u201d: a quarterly occurrence when equity and ETF options expire alongside index futures and futures options.&nbsp; During the lead up to that date we saw a bout of volatility.&nbsp; In hindsight it was yet another short-term opportunity for traders to \u201cbuy the dip\u201d, though I received nervous calls during those days.&nbsp; Since markets tend to have short memories, here is a reminder:<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-day-tick-chart-for-june-16th-22nd-2021-s-p-500-spx-white-right-scale-and-nasdaq-100-ndx-blue-left-scale\">5 Day Tick Chart for June 16<sup>th<\/sup> \u2013 22<sup>nd<\/sup>, 2021 &#8211; S&amp;P 500 (SPX, white, right scale) and NASDAQ 100 (NDX, blue, left scale)<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"472\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-June-5-Day-1100x472.png\" alt=\"5 Day Tick Chart for June 16th \u2013 22nd, 2021 - S&amp;P 500 (SPX, white, right scale) and NASDAQ 100 (NDX, blue, left scale)\" class=\"wp-image-95076 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-June-5-Day-1100x472.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-June-5-Day-700x300.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-June-5-Day-300x129.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-June-5-Day-768x329.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-June-5-Day-1536x658.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-June-5-Day.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/472;\" \/><\/figure>\n\n\n\n<p><em>Source: Bloomberg<\/em><\/p>\n\n\n\n<p>We see that NDX led the declines on Wednesday of that week, while SPX followed suit on Friday even as NDX recovered somewhat.&nbsp; An FOMC meeting on Wednesday and some intemperate comments by a Fed governor on Friday morning just ahead of the AM expiration of futures and futures options spurred the activity. By the following Tuesday, when other Fed governors made more positive comments, all seemed to be forgotten, as both indices recouped their losses.<\/p>\n\n\n\n<p>As I write this, we are in the midst of the second day of Federal Reserve Chair Powell\u2019s testimony before Congress.&nbsp; Mr. Powell speaks carefully and stays on message meaning that even some eye-popping CPI and PPI numbers were largely taken in stride.&nbsp;&nbsp; I offered the following <a href=\"https:\/\/www.bondbuyer.com\/news\/powell-ust-do-little-to-move-munis\">comment to a publication yesterday<\/a>: \u201cThe data-dependent Fed told us that for today at least we shouldn\u2019t worry about the data\u201d. As a result, while we have had some market gyration this week, the moves have been muted, as seen below:&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-day-tick-chart-for-july-12th-15th-2021-s-p-500-spx-white-right-scale-and-nasdaq-100-ndx-blue-left-scale\">4 Day Tick Chart for July 12<sup>th<\/sup> \u2013 15<sup>th<\/sup>, 2021 &#8211; S&amp;P 500 (SPX, white, right scale) and NASDAQ 100 (NDX, blue, left scale)<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"464\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-current-4-day-1100x464.png\" alt=\"4 Day Tick Chart for July 12th \u2013 15th, 2021 - S&amp;P 500 (SPX, white, right scale) and NASDAQ 100 (NDX, blue, left scale)\" class=\"wp-image-95077 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-current-4-day-1100x464.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-current-4-day-700x295.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-current-4-day-300x127.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-current-4-day-768x324.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-current-4-day-1536x648.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2021\/07\/SPX-NDX-current-4-day.png 1920w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/464;\" \/><\/figure>\n\n\n\n<p><em>Source: Bloomberg<\/em><\/p>\n\n\n\n<p>It would be reasonable for one to expect that a regular monthly expiration would be far less significant than a quarterly expiration.&nbsp; After all, there are 8 of them each year as opposed to 4 quarterly expirations, and there are fewer financial products disappearing.&nbsp; One could also argue that there is little to differentiate the monthly expirations from the weekly expirations that occur on the other 40 weeks, since the most actively traded options all have weekly (or even thrice-weekly) expirations.&nbsp; Yet the <a href=\"https:\/\/www.theocc.com\/Market-Data\/Market-Data-Reports\/Volume-and-Open-Interest\/Open-Interest\">open interest in equity and ETF options is roughly on par<\/a> with levels that we saw ahead of last month\u2019s expiry: over 427 million contracts yesterday versus 450 million on June 17<sup>th<\/sup>.&nbsp; That means that going into tomorrow\u2019s trading we still need to pay very close attention to contracts that are at or near strikes ahead of the close.<\/p>\n\n\n\n<p>It is too early to get a real read on those strikes \u2013 I don\u2019t propose to know where key equities and ETFs will be trading in an hour, let alone at 3 PM (Eastern) tomorrow.&nbsp; But it is not too early for anyone to be trading options to scour their holdings for near-money strikes with high volume and\/or open interest.&nbsp; Those strikes have an uncanny way of becoming either magnets or accelerators as the underlying items approach the key levels, and it is never too early for people to be looking for those opportunities or pitfalls ahead of expiration.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Going into tomorrow\u2019s trading, we still need to pay very close attention to contracts that are at or near strikes ahead of the close. Here&#8217;s why.<\/p>\n","protected":false},"author":4,"featured_media":27573,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14,17,14700,18,6,19,8,9,22,26,3],"tags":[1953,4940,297,2395,446,3473,314,1081,1926,10011,10012],"contributors-categories":[13576],"class_list":{"0":"post-95072","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-etfs","8":"category-futures","9":"category-ibkr-market-insights","10":"category-macro","11":"category-north-america","12":"category-options","13":"category-region","14":"category-securities","15":"category-stocks","16":"category-text-articles","17":"category-traders-insight","18":"tag-congress","19":"tag-etf-options","20":"tag-etfs","21":"tag-expiration","22":"tag-federal-reserve","23":"tag-federal-reserve-chair-jay-powell","24":"tag-fomc","25":"tag-nasdaq-100","26":"tag-options","27":"tag-options-futures","28":"tag-triple-witch","29":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Some Things to Watch Ahead of Monthly Expiration<\/title>\n<meta name=\"description\" content=\"We are in the midst of the second day of Federal Reserve Chair Powell\u2019s testimony before Congress.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/95072\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Some Things to Watch Ahead of Monthly Expiration | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"We are in the midst of the second day of Federal Reserve Chair Powell\u2019s testimony before Congress.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-15T15:53:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T18:32:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/12\/yield-corporate-bonds2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"Some Things to Watch Ahead of Monthly Expiration\",\n\t            \"datePublished\": \"2021-07-15T15:53:23+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:32:49+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/\"\n\t            },\n\t            \"wordCount\": 559,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/12\\\/yield-corporate-bonds2.jpg\",\n\t            \"keywords\": [\n\t                \"Congress\",\n\t                \"ETF options\",\n\t                \"ETFs\",\n\t                \"expiration\",\n\t                \"Federal Reserve\",\n\t                \"Federal Reserve Chair Jay Powell\",\n\t                \"FOMC\",\n\t                \"Nasdaq 100\",\n\t                \"options\",\n\t                \"options futures\",\n\t                \"triple-witch\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"ETFs\",\n\t                \"Futures\",\n\t                \"IBKR Insights\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Options\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Stocks\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/\",\n\t            \"name\": \"Some Things to Watch Ahead of Monthly Expiration | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/12\\\/yield-corporate-bonds2.jpg\",\n\t            \"datePublished\": \"2021-07-15T15:53:23+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:32:49+00:00\",\n\t            \"description\": \"We are in the midst of the second day of Federal Reserve Chair Powell\u2019s testimony before Congress.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/some-things-to-watch-ahead-of-monthly-expiration\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/12\\\/yield-corporate-bonds2.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/12\\\/yield-corporate-bonds2.jpg\",\n\t            \"width\": 900,\n\t            \"height\": 540\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Some Things to Watch Ahead of Monthly Expiration","description":"We are in the midst of the second day of Federal Reserve Chair Powell\u2019s testimony before Congress.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/95072\/","og_locale":"en_US","og_type":"article","og_title":"Some Things to Watch Ahead of Monthly Expiration | IBKR Campus US","og_description":"We are in the midst of the second day of Federal Reserve Chair Powell\u2019s testimony before Congress.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/","og_site_name":"IBKR Campus US","article_published_time":"2021-07-15T15:53:23+00:00","article_modified_time":"2023-02-10T18:32:49+00:00","og_image":[{"width":900,"height":540,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/12\/yield-corporate-bonds2.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Some Things to Watch Ahead of Monthly Expiration","datePublished":"2021-07-15T15:53:23+00:00","dateModified":"2023-02-10T18:32:49+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/"},"wordCount":559,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/12\/yield-corporate-bonds2.jpg","keywords":["Congress","ETF options","ETFs","expiration","Federal Reserve","Federal Reserve Chair Jay Powell","FOMC","Nasdaq 100","options","options futures","triple-witch"],"articleSection":["ETFs","Futures","IBKR Insights","Macro","North America","Options","Region","Securities","Stocks","Text Articles","Traders' Insight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/","name":"Some Things to Watch Ahead of Monthly Expiration | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/12\/yield-corporate-bonds2.jpg","datePublished":"2021-07-15T15:53:23+00:00","dateModified":"2023-02-10T18:32:49+00:00","description":"We are in the midst of the second day of Federal Reserve Chair Powell\u2019s testimony before Congress.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/some-things-to-watch-ahead-of-monthly-expiration\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/12\/yield-corporate-bonds2.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/12\/yield-corporate-bonds2.jpg","width":900,"height":540},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets several media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/12\/yield-corporate-bonds2.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/95072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=95072"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/95072\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/27573"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=95072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=95072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=95072"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=95072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}