February’s monthly option expiration week has had a bullish lean over the past 31 years, but it has faded over the last five years. Weekly average gains fall in a range of 0.26% by S&P 500 and NASDAQ to 0.42% by DJIA. Based upon the number of positive weeks, DJIA has the best track record. From 2006 through 2019, S&P 500 was up 12 of 14, but has been down the last five straight during February’s monthly expiration week. Monthly option expiration Friday and the week after have a bearish record with average losses over the last 31 years.
