Over several time horizons op-ex week in December has been the most bullish week of the year for the SPX. The positive seasonality actually has persisted for up to 3 weeks. I’ve shown the study below in the blog many times since 2008. It looks back to 1984, which was the first year that SPX options traded. The table is updated again this year.
The stats are extremely strong. This year I also decided to throw in the 5-day equity curve.
The 2 sizable dips you see were 2000 and 2011. And even with those shown, it is a very persistent move higher. Price action has been tough lately, but the bulls should have seasonality on their side next week.
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