How ‘OpEx’ Is Shaking Up the Third Week of the Month

Since January, stocks have lurched lower in the third week of most months. That happens to be in the run-up to the date on which most stock options expire, the third Friday of the month. While it’s not guaranteed to happen again, the turbulence around this event — known colloquially as OpEx, for options expiration — has become a source of fascination to many market observers, because it upends the traditional relationship between options and their underlying assets. What it suggests is that th

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