Today is options expiration day with stocks, and as one of the larger OpEx days we’ve had in a while with $5 trillion of options expiring, especially loads of 21 June dated calls on AI stocks, this is the reason for loads of intraday price volatility on US stocks in yesterday’s market and the reason why loads of stocks will also experience very price volatile trading sessions today as well. One only need observe intraday price action on the top traded stocks in the US stock market yesterday and today to understand that there is relentless manipulation of stock prices by the Wall Street firms that often contradict all logic and sense in driving stock prices to absurd price levels at times. And we all know that what goes up must come down, so allow this to be a warning to those that have joined the sheep herd narrative that many of the most popular shares can only go higher in price in a US election year. As an example of one stock that recently experienced absurd fluctuations in price due to its price being manipulated by options positions, see the below chart.
Thanks as always, John!
Keep speaking Truth John...there is no hope in lies....