Another Month, Another Lousy Expiration Week For The Bulls

While we've only had two full days of trading, options expiration week is shaping up to be a lousy one.  If it feels familiar, that's because it is.  As shown in the chart below, last month's expiration week (May 11 - May 15) was almost as bad as this month's has been.  While the S&P 500 is down 3.6% so far this week, last month it was down 2.2% in the first two days of trading and finished the week down 5%.  As Yogi Berra would say, the bulls are hoping it's not deja vu all over again.