Preview Of Today's $3.4 Trillion Option Expiration: "Equal To 7% Of The Russell 3000 Market Cap"

Over $3.4 trillion of notional options exposure will expire today. Of this, $1.4 trillion will expire at the market open, the bulk, or $1.3 trillion, in the form of S&P options, while another $2.0 trillion expires at the close, with the $1 trillion in single stock option expirations on deck to be the largest since Jan 2022 and the third largest on record.

preview of todays 34 trillion option expiration equal to 7 of the russell 3000 market cap

As Goldman's John Marshall writes in his Opex preview note (available to pro subscribers), consistent with the past few quarters, there is unusually large open interest expiring around the 4000, 5000 and at-the-money strikes in the SPX.

Authored by Tyler Durden via ZeroHedge January 19th 2024