The term was invented by market analyst, Don Wolunchuk. Weird Wally is most likely caused by the fact that most futures have “rollover” dates on the Wednesday/Thursday the week before expiration. The quarterly Weird Wallies (March, June, September, December) will see more volatility since many futures are quarterly (such as the widely traded S&P e-mini) and not monthly. Weird Wally is not really an options phenomenon, but it does affect options and options traders because many futures traders hedge with options and will close those options positions when they rollover/close their futures positions. As I’ve said, Weird Wally Wednesday and sometimes the day after tend to be down days. In bull markets, it tends to set up a buying opportunity ahead of the following week’s options expiration. Let’s see if we get a pullback here. If so, it would fit nicely to set up further strength next week.

The liberal media is outraged at President Trump. AGAIN.

Trump pointed out that […]