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Friday’s $2.3 trillion options expiration could remove a critical avenue of support for stocks, analysts say

·2 min read
Friday’s $2.3 trillion options expiration could remove a critical avenue of support for stocks, analysts say

On Friday, Rocky Fishman, the head of index volatility research at Goldman, sent a chart to MarketWatch illustrating the different types of stock-linked options that are set to expire, as well as whether they’re set to expire in the morning, or in the afternoon in New York. As Fishman explained in a note in June, options expiration adds a layer of “positioning complexity” to the market. Since the Federal Reserve announced its second 75 basis points interest-rate hike in July, market strategists including JPMorgan Chase & Co.’s Marko Kolanovic have cited positioning as the critical factor driving markets higher, as investors chased the rally by putting money back to work in the market.