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Futures Rise, Tech Boosted By Solid Netflix Results Ahead Of $1.3TN In Index OpEx

Tyler Durden's Photo
by Tyler Durden
Friday, Jan 20, 2023 - 01:10 PM

S&P futures are modestly higher this morning trading in a narrow range, with tech stocks leading on the back of solid earnings by Netflix. Contracts on the S&P 500 Index rose 0.3% while those on Nasdaq 100 were 0.6% higher even as the underlying gauges were poised for the biggest weekly losses since before Christmas.

Today will be the last day before Fed’s blackout period before the Feb 1 FOMC; today is also the largest non-quarterly option expiration day on record for indexes: according to Goldman, $797bn of single stock options will expire today, the largest since Jan-2022 and the fourth largest on record. From an index perspective, $1.3trn of options will roll today, the largest non-quarterly expiry on record.

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