Monday after Quadruple Witching.
As written on Friday, the DOW reversed itself and was up 40 point during the morning . The same amount it lost on Friday. This reversal was exactly as I anticipated.
.
Many of the stocks that closed Friday were just under strike price also reversed their course. Listed below are just a few examples,
STX closed Friday under just under $19 a share . In today’s the morning trading, the stock rose to over $19.50.
MU closed Friday under $10 a share . On opening this morning, the stock rose to $10.25 a share .
Others such ax BX, C, RFMD and many more followed suit.
On the flip side, stocks that closed over their strike price opened down. Owners of the calls sold the stocks in order to profit from the application of the options. Just one example was AMD . AMD closed Friday at over $9 a share. The stock opened on Monday morning trading as low $8.80. Once again there are numerous examples to validate my claim.