Since 1994, October’s expiration day tends to be mixed with modest average losses across the board even though S&P 500 and NASDAQ (NYSEARCA:QQQ) have advanced more often than not.
Expiration week and the week after have been mildly bullish. DJIA(NYSEARCA:DIA) and S&P 500(NYSEARCA:SPY) have the best long-term records. October’s reputation for volatility can be seen with wild daily and weekly swings in the tables below. Weekly moves in excess of 4% appear throughout the tables below. However, not all of those big weeks were losers especially during the following week.