Is it OP/EX today??

[ancona]

I just noticed the volume on the DOW is already near where it has been closing out for the last two years or so. It's barely 10:30 and already 100mm shares have been handled. That's just 10 or 15 away from the usual total daily volume. :flail:

 

[swissaustrian]

Yes, stock options expire today:
http://www.marketwatch.com/optionscenter/calendar

But not pm options, although they almost trade like it's opex:
http://www.cmegroup.com/trading/metals/precious/gold_product_calendar_options.html#prodType=AME

http://www.cmegroup.com/trading/metals/precious/silver_product_calendar_options.html#prodType=AME

 

[swissaustrian]

In typical opex perversity fashion, pm miners suddenly got a big boost and some are now trading positive intraday (NEM, SLW) even with metals down heavily.
Seems like lots of call options were executed and underwriters had to cover by purchasing mining stocks. How convenient that pm prices plunged just a few minutes before the options settlement lowering pm mining stock prices, too....

Nothing to see here.