The Gilmo Report

November 21, 2021

November 21, 2021 10:19 am ET

The final two trading days of the week featured a notable divergence away from the broader market as money piled into big-stock NASDAQ 100 names, driving that index to all-time highs on Thursday and Friday. The big gamma unclench on Friday, featuring the expiration of the second highest number of stock, index, and ETF options ever, produced a very mixed market as the S&P 500 and Dow Indexes sold off on higher options expiration volume.

Meanwhile, the NASDAQ 100 pile-in put enough wind into the NASDAQ Composite Index’s sales to send it to all-time highs as well. While the index posted a new high, it stalled on surprisingly lighter, but not necessarily unusual, options expiration volume


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