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The first notable point is the fact last night’s price action did not break the Wednesday high made prior to FOMC’s Janet Yellen announcing a 0.25% rate hike.
Tonight is triple witching for the US markets, a time when index futures, along with index and equity options expire or are rolled over to a forward month. December is always a big month as positions are wound up for the year.
With such a strong Trump-induced rally of over 5% during the past 4 weeks, it would be realistic to expect many of the long call options will be deep in the money at tonight’s expiry.