Friday is April monthly options expiration day.
It used to be a big day. Back in the day (cue old person lecturing) we used to only have monthly options expirations. And because of this, the third Friday of every month tended to offer up some fireworks on the regular.
These days, daily expiring index options and weekly expiring stock options have kinda taken the starch out of the monthly happening. Boo.
Call me old fashioned (just don’t call me old!), but I still prefer to do my directional options trades – and most of my delta-neutral option spreads – in regular ol’ monthly expirations. And there seem to be plenty of traders out there like me because we still see the majority of the open interest in the monthlies.
I’m bringing this up because I’ve got some April long calls on the books that are still working for me (barely). [Read more…]