The markets are testing higher as we approach the open on options expiration day, this day has often shown a bias.
Key Event: Options Expiration
Description: The monthly expiration date for listed stock options in the United States is normally the third Friday of the contract month or the month that the contract expires. Once an option or futures contract passes its expiration date, the contract is invalid. Therefore, traders must decide what to do with their options by this last trading day.
Day - Friday
Opening Gap Direction - Up
Market Status - Options Expiration Day
Instrument - ES, RTY, NQ, YM
Trading SetUp - Intraday Entry
Market Trend - Bull
Trade Type - Long
Entry - 9:30 am ET (Market Open)
Exit - 4:15 pm ET (Market Close)
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