Does anyone know how the CBOE options exiration calendar was developed?...why it's set up how it is? Why don't options just expire the last trading day of each month? Equity options stop trading on the 3rd Friday of the month, but has it always been this way? I haven't been paying attention long enough to know.
Looking at quotes on-line, I'm seeing that the S&P is up 0.08% for the day...up almost 1 point from yesterday's close. [more]
I don't recommend trading based on this...I'm simply documenting my current best guess. This is simply based on my rudimentary technical analysis. The technical indicators I'm watching have been extremely effective at spotting short term tops and bottoms recently as the market has swung back and forth. Right now, barring some phenomenal news that blows the pattern, it looks like we're near a short term top...one that should take the markets down 5%+ before a significant rebound. Of course, often times, as soon as a short term technical trend appears foolproof, the indicator stops working...so, we'll see...it should be apparent by the end of next week, so I'll comment on this prediction next Friday...if I remember. [more]